The global economic crisis threatens to create failed states, UN secretary general Ban Ki-moon warns
http://www.news.com.au/story/0,27574,25278784-2,00.html
Agence France-Presse
April 02, 2009 12:23pm
UN chief Ban Ki-moon has warned that failing to act to halt the global economic crisis could lead to widespread social unrest and failed states, ahead of the G20 crisis summit in London.
"What began as a financial crisis has become a global economic crisis,'' the UN secretary general wrote in an article in today's Guardian newspaper in Britain.
"I fear worse to come -- a full-blown political crisis defined by growing social unrest, weakened governments and angry publics who have lost all faith in their leaders and their own future.''
He said the global economic downturn affected the poorest countries the most, and noted that in these countries "things fall apart alarmingly fast''.
"Unless we build a worldwide recovery we face a looming catastrophe in human development,'' Mr Ban wrote.
World leaders meet in London today to decide how to tackle the global financial crisis, but are divided on whether to boost the world economy with an injection of capital, or to focus on new rules to prevent another such crisis.
AS of Perth Mr Ban called for a "truly global stimulus'' package, and argued that developing countries need $US1 trillion over 2009 and 2010.
He added: "There is a thin line between failing banks and failing countries, and we cross it at our peril.''
Agence France-Presse
April 02, 2009 12:23pm
UN chief Ban Ki-moon has warned that failing to act to halt the global economic crisis could lead to widespread social unrest and failed states, ahead of the G20 crisis summit in London.
"What began as a financial crisis has become a global economic crisis,'' the UN secretary general wrote in an article in today's Guardian newspaper in Britain.
"I fear worse to come -- a full-blown political crisis defined by growing social unrest, weakened governments and angry publics who have lost all faith in their leaders and their own future.''
He said the global economic downturn affected the poorest countries the most, and noted that in these countries "things fall apart alarmingly fast''.
"Unless we build a worldwide recovery we face a looming catastrophe in human development,'' Mr Ban wrote.
World leaders meet in London today to decide how to tackle the global financial crisis, but are divided on whether to boost the world economy with an injection of capital, or to focus on new rules to prevent another such crisis.
AS of Perth Mr Ban called for a "truly global stimulus'' package, and argued that developing countries need $US1 trillion over 2009 and 2010.
He added: "There is a thin line between failing banks and failing countries, and we cross it at our peril.''
Comment
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Comment by michaelcarlo on April 5, 2009 at 9:30pm
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If Obama and the Democrats unilaterally disarm America and transfer American leadership to the E.U.. India and Pakistan will annihilate each other. China will dominate South East Asia and the Pacific. Russia will seize Europe and Iran will control the Middle East. That's bad Karma.
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Moderator Comment by M K Ramadoss on April 3, 2009 at 1:18am -
I suspect that the causes behind the current economic problems in the world, especially in the western world, have been in the works for years. There has been continuous wars. Wars have caused immense suffering and hardship to millions of people; many continue to live in abominable living conditions as refugees. Volunteer soldiers and their families also paid a heavy human price – loss of lives and limbs and long term disabling injuries. Billions of dollars of money has been spent on wars. Western countries continue to battle and planning to expand the fight. When so much suffering has been caused, someone has to pay the price. Anyone who believes in Karma, is convinced that the payback time has finally come. Leaders need to wake up and realize that fighting the immutable law is going to cause only more suffering. Let us see what happens in the coming years.
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Obama and that mob on Capital hill is taking the U.S. economy on a "death ride". Every time he opens his mouth the stock market falls. Big business is packing up and will leave before the Socialistic tsunami swamps the nation. We'll soon be living in the largest welfare country in the World with all kinds of racial unrest. The Military Industrial Complex will not go quietly in the night. Those War lovers will burn the house down before surrendering their weapons. Unless intelligent minds prevail, and put the wheels back on this broken wagon, we are headed for the dark ages. Theosophy, the fusion of all the great religious and philosophic thought is the tip of the spear and must step forward out of the shadows and forge it's universal brotherhood. It's showtime Theosophist's. Otherwise buy some land in the country, lockand load, welcome to the Kali Yuga.
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Comment by Brenda Tucker on April 2, 2009 at 12:21pm
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I requested a library book on cycles by W. D. Gann, THE TUNNEL THROUGH THE AIR OR LOOKING BACK FROM 1940. (Strange title.) I probably never heard of him because he was an Australian success story, but his methods are still being taught today. Look at this recent article http://investment.suite101.com/article.cfm/basics_of_wd_ganns_price_square
If anybody can help us figure out this cycle, he can. Also, while many of us are not spending money, think how much free time THERE IS TO READ. All of we poor are hitting the books.
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Comment by Katinka Hesselink on April 2, 2009 at 2:50am
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I'm worried that's for sure. Remember that the troubles of the 30s led directly to WW2. I think the thing to do is to keep up whatever help we're giving those in need - and support our governments in not moving towards protectionist measures (which deepened the 1930's crisis). Also - each of us can try to avoid escalating trouble between ethnic and religious groups. But that is about all any of us can do - aside from using our resources (whether time or money) to help those at the bottom: locally.
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Comment by Susan Thomas on April 1, 2009 at 11:39pm
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This is sobering. What are your thoughts about this, and how is this already affecting you? Are larger, urban areas more or less likely to suffer social unrest/ How do you believe this would manifest in areas where you live or have travelled? What would you do? What would you like world leaders to do?
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