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ECO100Y1 (431)
Jack Carr (32)

Development of Low income Countries

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University of Toronto St. George
Jack Carr

March 18, 2009 Big 3 auto have increased labor productivity to about that of the Japanese auto makers 12.3-12.4-Krugman -Lipskey-EU and US have agreement, proposition, emerging nations will lead the global recovery if they are not starved for capital, funding -President of the IMF predicted that in 2009, there will be a decline in GDP in the world, fiscal stimulus is needed for the advanced economies, the financial system has to be working in order for recovery, IMF asked for a doubling of its financial ability-250-500B -If IMF has 500B, then it will be able to meet most short term emergencies, will have more confidence in restoring growth and success Krugman-food price spikes, food crisis in 2008 was not dependent upon speculation, it was dependent on real world forces, will have more spikes in future years for food prices, should create some mechanism to deal with food spike, should prevent food spikes in developing countries, develop foreign aid packages to deal with food price spikes, invest in R&D -drive for biofuel is hurtful for food availability for food products -much of the land is being converted from agriculture to non-agriculture sector -unpolluted fresh water, the scarcest resource, demand for water is increasing strongly in the world, changing diets, higher standard of living, population growth -this brings security risks for the availability for wa
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