Despite stresses in the global economy, China will avoid any sharp drop in growth, Premier Li Keqiang of China told more than 2,000 business, government and civil society leaders from over 90 countries participating in the opening session of the eighth World Economic Forum Annual Meeting of the New Champions.
“Everywhere we remain un-free and chained to technology, whether we passionately affirm or deny it. But we are delivered over to it in the worst possible way when we regard it as something neutral, for this conception of it, to which today we particularly like to do homage, makes us utterly blind to the essence of technology.”
--Martin Heidegger, “The Question Concerning Technology”
Public debt is a relatively complex concept that most current approaches agree to refer to the sum of debt whose obligation to repay falls on the government of a country. According to the World Bank (WB)'s approach, public debt is understood as the liability of four main groups of institutions:
Sometimes economies can't be fixed after decades of statist misdirection, and the people simply get up and go. Since the debt crisis of the 1980s, 10 million poor Mexicans—victims of a post-revolutionary policy that kept rural Mexicans trapped on government-owned collective farms—have migrated to the United States.
Egypt's unfixable economy will inexorably turn it into a failed state. Notwithstanding the existence of an educated, urbanized, and sophisticated class, Egypt remains an essentially pre-modern society with a 45% literacy rate and a dysfunctional higher education system unable to produce a competent labor pool to meet the demands of a globalized economy.