The global financial crisis and the poor
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Edition Summary:
The global financial crisis and the poor
The global financial crisis that engulfed the world in 2008 and continues to wreak havoc today is unique.
Never before have so many people in so many countries been caught in an economic downturn. Never before have so many governments been forced to ease monetary policy and increase spending simultaneously – and by so much – in an attempt to stave off severe recession.
And never before have the livelihoods of so many people in the world’s poorest countries been so directly affected by circumstances in the richest. Indeed, there are justifiable fears that the rich world will lose sight of the Millennium Development Goals as it is consumed by its own economic turmoil.
The tumultuous events in financial markets over the past year, coming on top of the global food crisis, have forced practitioners and theorists alike to fundamentally re-assess how development can be achieved in a highly integrated world.
This first edition of Global Future for 2009 contains a stimulating sample of new thinking about the impact of the financial crisis on developing countries, and the responsibilities of the developed world to mitigate its effects and prevent its recurrence.
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