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Future of developing nations World Bank report - 6-Jun-2009
The World Bank has recently published its appraisal on the collapse of job opportunities due to the existing drastic fiscal condition. It has also proclaimed that there is a possibility that the international trade and the economical development will severely shrivel in coming months. It also declares that in the global economy there will be a further huge loss of job opportunities.
It further states, after the Second World War, the maximum jobless condition currently exists only for the past few months With less than 5% global economical development in the year 2009, in the past 80 years the maximum jobless condition has happened now only, says the World Bank.
It states that at present the East Asian Countries are more affected. The World Bank has also voiced its concern over the likelihood of fall in production that when compared to the production of 2008, the rate of production of 2009 will be less than 15%.
Among the 116 developing countries, a dull progress is seen only in 94 countries. Further, among these countries it is clearly evident that acute poverty prevails in nearly in 43 countries. In this calamity, Export, Construction, Mine and Production sectors of the urban limits are caught and they suffer. In India alone nearly five lakh lay-offs until now have happened, especially in the fields of Gem and Jewellery, Readymade Garments manufacture and Automobile. The dependence of the already poor countries on the other countries has been increasing. Those countries that had lent a helping hand so far, have now amply curtailed their general assistance due to their present problems.
The World Bank suggests, only when the Government, Private and other organizations unite together and come forward they can solve problems and achieve the aspects such as, prevention of jobless conditions and job security. Further, it is indispensable to save the Developing Countries from these crucial problems. It is also imperative to find a Global-fit solution to resolve the World crisis.
