Germany’s chancellor Angela Merkel has a simple message for the millions young people in the eurozone who are out of work – move.
In an interview, Mrs Merkel said the high levels of youth unemployment in Europe represent a “huge crisis”, comparing the eurozone’s difficulties with post-Communist eastern Germany.
Speaking to the BBC, she said that when unemployment soared after the fall of the Berlin Wall, “many young people … only had jobs because they moved to the south.” Mrs Merkel said: “I think it’s unfair that it is the young people especially who have to pay the bill for something they didn’t do. Continue reading
This week, the World Bank issued “China in 2030,” a major report that calls for dramatic economic reforms to maintain China’s current rate of growth. In his opening remarks at the launch conference in Beijing on February 27, World Bank chief Robert Zoellick noted that China faces a number of challenges in the coming years, including a rapidly aging population, resource pressures, environmental issues, and rising inequality.
The report warns that China is at a “turning point in its development path,” and needs a new development strategy. It calls for six changes:
1. Structural economic reforms
2. Focus on innovation;
3. Emphasis on “green” development
4. Improve social security system;
5. Strengthen the fiscal system; and
6. Become a more active global stakeholder.
Full article: China in 2030 (The Diplomat)