Global Economic Problems Alarm World Bank President

Global Economic Problems Alarm World Bank President

Global Economic Problems. Robert Zoellick, World Bank President, announced Wednesday the new economic and financial danger zone the world has entered and the United States, Japan and Europe had to wake up in order not to continue dragging the world economy down. Unless the United States, Japan and Europe face their responsibilities, the world will most likely be dragged down as well not only themselves, Zoellick said while at George Washington University.

Zoellick boldly uttered his speech ahead of the planned meetings by the International Monetary Fund and the World Bank next week.  Zoellick has expressed his dismay when the above powerful and strong nations have procrastinated for so long in making crucial decisions and the result, the whole world is suffering.

Zoellick’s speech has now escalated fears about the worsening European debt crisis. The fear in Europe has overshadowed the current investor concerns about the current economic and financial problems in the United States and Japan. Zoellick has criticized the above countries for slamming China to be more responsible as a rising global economic power when in fact they themselves are coward to face their own economic problems.

Zoellick has encouraged strong and industrialized countries to get ahead of things and to adapt quickly to changes. The current worldwide economic situation we all are facing might get worse if all are just pinpointing and not taking the responsibility.

Posted by George Daniels on Thursday September 15 2011, 2:54 AM EDT. Ref: Reuters. All trademarks acknowledged. Filed under Featured News, Finance. Comments and Trackbacks closed. Follow responses: RSS 2.0