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World Bank Sees Long Crisis Effect
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Comments in an interview by the World Bank's new chief economist Kaushik Basu on problems for global job creation. He served as chief economic advisor to the Indian government for the last 3 years. He talks of the drying up of trade credit with the eurozone crisis that is hurting exports of developing countries. Basu also emphasizes the importance of addressing the unemployment problems in developed countries. The World Bank's annual development report shows 200 million people unemployed and seeking work globally. And 620 million youth-many of them women- are neither working or looking for work. He is on leave from Cornell University.
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