Asia needs to play a larger role in the global recovery process as compared to previous downturn since most of US consumers are facing money crunch, says World Bank chief Robert Zoellick.
In an interview given to Financial Times, Zoellick said that it was indeed difficult to see US consumers trying to assume similar role as [...]

The term developing economy is used to refer to countries such as India, Pakistan and Bangladesh, which are economically backward as compared to developed countries. They have much to achieve in terms of economic growth and development. They lag behind the developed countries such as US and UK on account of many reasons [...]

China is making much growth in the economic sphere. In the Third World, China is expected to stand tall in the coming future. It will be a force to reckon with in world politics. Even the U.S. recognizes its potentiality.
Growth of Chinese manufacturing sector
The manufacturing sector expanded very rapidly at a fast rate within a [...]

The world economic growth is no doubt a lopsided affair. The Western countries have been dominating the world economy. The developing countries such as India and Pakistan and some of the under developed countries in Africa have always been forced to compromise with the Western powers as the latter are economically strong.
The United States and [...]

The global economy is just recovering from recession. It was a tough year indeed. Many lost their jobs and were virtually thrown on the streets. Those who had mortgaged their houses had lost their homes. They had no money to pay up the loans. Several people had to survive on unemployment benefits in the [...]

The world is not all that perfect. Economic disparities exist among nations. Many countries are poor. People are living in abject poverty. Countries like India and Pakistan are unable to feed their population. Many suffer from malnutrition and disease. Why is this so?
Why does poverty exist?
Poverty is indeed a curse. People suffering from it are [...]

Wealth in the world is not equally distributed. Some nations are very rich whereas others are very poor. The Western nations such as the US, West Germany, UK are very prosperous. On the other hand, economically poor countries such as those in the African continent and India, Pakistan are lagging behind. Why is this disparity [...]

Countries cannot live in isolation. They have to mutually share their prosperity, technical know-how and undertake trade in order to sell their surplus products. The world economy is inter-dependent. Economic progress of a nation would depend upon its ties with other countries.
How does a country benefit from trade relations?
Countries maintain trade relations with each other. [...]

The world’s wealth and natural resource are not equitably distributed in the sense some countries are rich whereas some are poor. True, each country is independent of the other country and would like to enjoy its own prosperity rather than share it. Countries like the US have advanced technological innovations and are able to manipulate [...]

The status of world economies varies from country to country. Rich nations normally enjoy a flourishing economy whereas poorer nations have to survive trying to meet their basic needs. Recession has no doubt made a dent on the economy of the rich nations as well, but under normal conditions well-to-do countries, such as the US, [...]