The Future Global Economic Situations - A2 Geography

1. The Future Global Economic Situations A2 Geography

2. What are the Possibilities for the future? As we have seen, we may all have differing view of the future There is no question that we can achieve the overreaching goal of eradicating poverty – we know what to do But it will take a long term effort

3. Recent projections put that the amount of people living on less than $1 a day will fall from 29% (1990) to 10% by 2015 Most places are on target to achieve MDG1 except for sub Saharan Africa What problems would enhance or hinder the process of development

4. Activity What factors do you think would hinder or help the process of development?

5. Factors Affecting Development

6. The Global Economic Situations The future of the DG is uncertain – the recent credit crisis has brought this home Increases in food and energy prices have created problems in poorer countries How far it pushes these LEDCs in the 21st century remains to be seen. Pakistan was almost forced to the edge of bankruptcy due to oil prices, having only one more months of imports.

7. The Level of Official Development Assistance In 1970 it was agreed that all the rich donor countries govts promised to spend 0.7% of its GDP on international aid Nearly all of them have consistently failed to reach this target

8. Sustainable Development If the DG is to narrow we will need to rely on sustainable strategies

9. Microcredit and Social Business Grameen Bank – Bangladesh has reversed conventional banking practice by removing the need for collateral and created a banking system based on mutual trust, accountability, participation and creativity. GB provides credit to the poorest of the poor in rural Bangladesh Women benefit from most of these loans

10. Loans include things like buying a cow to sell milk The concept spread to 25 countries and 3.6million people. It’s creator Muhammad Yunus says that Social business is the next area it wants to use in its battle to fight poverty He argues that poverty is created by economic, social and political systems and not laziness, ignorance or moral failings He sees women as the driver of this change

11. Bibliography Grameen Bank