“One Shock Away From A Full-Blown Crisis”
In spite of the domestic economic concerns of the United States, we must be mindful of the rest of the world, and the way all could be impacted if creative ways to assist with global concerns are not found. Too often it seems the ‘circle the wagons’ mentality gets a hold of some in the nation, and they forget our larger role as a leader. The Tea Party types seem to be the ones who need to hear the words of the head of the World Bank the most at this time. Those are the ones who need to better understand the interconnectedness of the world.
The president of the World Bank has warned that the world is “one shock away from a full-blown crisis”.
Robert Zoellick cited rising food prices as the main threat to poor nations who risk “losing a generation”.
He was speaking in Washington at the end of the spring meetings of the World Bank and International Monetary Fund.
Meanwhile, G20 finance chiefs, who also met in Washington, pledged financial support to help new governments in the Middle East and North Africa.
“The crisis in the Middle East and North Africa underscores how we need to put the conclusions from our latest world development report into practice. The report highlighted the importance of citizen security, justice and jobs,” he said.
He also called for the World Bank to act quickly to support reforms in the region.
“Waiting for the situation to stabilise will mean lost opportunities. In revolutionary moments the status quo is not a winning hand.”