Future of World Economies – Green Thoughts
T he developed economies of the world, reeling under debt and rising unemployment, have been facing severe economic pressures ever since the crisis began in 2008. One may wonder as to where the future of developed economies is heading. The developed economies still lead the world in high technology manufacture such as such as computer chips, aircraft etc. They will probably continue to do so for several more decades. However for the rest of manufacturing, ranging from undergarments to motorcars, it appears that high standards of living coupled with high wages in developed countries makes much of manufacturing uncompetitive in a globally trading world. It is partly for this reason that economies of the BRIC countries are growing rapidly while developed economies stagnate or struggle with insignificant growth. The largest of developed economies, the US, that is largely consumer driven hopes to grow once again if consumer demand increases. However a sustainable future for mankind...