Bracing for an unknown future

Triple Crisis Blogger Martin Khor first published the following article in The Star Online, on the need for developing nations to make a collaborative effort to learn from the current financial crisis and prepare for the next one.

There is great uncertainty about the future of the world economy and developing countries should prepare now for the next crisis, according to prominent experts at a finance seminar in Geneva last week.

THE world economy will be going through a period of uncertainty and turbulence in the next few years and the developing countries should prepare to face this challenge and avoid being overwhelmed.

Several experts gave this warning at a workshop on options for developing countries in the global financial turbulence held in Geneva on May 25.

If the lessons of the last financial crisis are not acted on through coordinated global action, there will be a bigger crisis soon, and an even bigger one after that, warned Yilmaz Akyuz, chief economist of the South Centre.

Read the full article at The Star Online.

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