Global financial crisis

I wrote a posting about current global crisis undermining smallholders. I thought that smallholders affected by global crisis were related to international commodities such as oil palm. Smallholder is only one of groups that become vulnerable when crisis hit developed countries.

Now, global financial crisis seems on the way, comes from the slowdown of US economic as well as in European countries. It threats the new economy in South such India and South east Asian.

financial crisis 2012I wonder on the next crisis phase which will impact more people of groups such workers.  As shown in the recent news, huge companies are decreasing their workers for business survival reasons.  This situation draws attention of most established families who are planning their retirement.

How they can address it at current global crisis?

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Differences between current global crisis and 1997 financial crisis

High income        Upper-middle income        ...

The World Bank released a report on the current global crisis. It highlights the situation on East Asia and Pacific.

As I noted in previous my post, both developed and developing countries are trying to deal with the crisis. Even the 20 countries of world biggest economic power have meet in London Summit to develop new collaboration steps for halting the recession.

At the same time, some organizations were proposing green stimulus packages. Within the stimulus plan, the issues of employment generation in green sectors are addressed. Hopefully more countries adopted the proposal as well.

Back to current global crisis, below some facts of differences with financial crisis occurred in 1997-1998:

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