The world economy – especially the former industrialised nations economies have to change – yet, so do the new economies of the East.
Asian governments must cut reliance on export-driven growth and spend more to cut poverty, Asian Development Bank (ADB) finance officials have said.
Countries must restructure to focus on domestic demand as they grapple with economic chaos, the banks’ annual meeting in Indonesia was told.
For the amount of money that these countries have to loan out to the USA and the West – maybe it is time that most of that cash was utilised for the benefit of the people of their own countries – especially the poor.
Watch next – Africa will be built up to provide sweat shops to bring more goods into the Western economies – after all – why pay the wages needed domestically when you can pay almost zero to produce the same product?
The world is revolving – and it just might be that we cannot be the consumers of cheap, subsidised goods any longer.
Wouldn’t that make a real change?