Escolar Documentos
Profissional Documentos
Cultura Documentos
Gian Singh
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Publisher:
TEHRIK Publications
383/6 Fatehpuri Colony
Rohtak-124001
India
+919729961518, +919416358044
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IV
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weak is asked to share burden equally. Despite infusion of heavy dose of public money, crisis is ruling the
scene. Similar is the position of Europe. The global
nature of crisis made it impossible to keep Europe
immune from the crisis that took America at tailspin.
Italy has lost 9% of its GDP since beginning of crisis and
Greece 25%. The launch of euro in 1999 was seen as
key to a golden era of peace, prosperity and European
integration but it took little time to face the reality of
failures and disintegration. Greece crisis found its echo
in euro and the European Union itself. Middle East is in
turmoil, while in most countries of Latin American
countries tagged to IMF and World Bank like South East
Asian and Indian scene are not better. They are feeling
the pinch of a globalised economy and are transferring
its cost to shoulders of respective population.
The report by Oxfam, titled Working For the Few,
published ahead of World Economic Forum (WEF) 2014
meet in Davos, details impact that widening inequality
is having in developed and developing nations.
Wealthy elites have co-opted political power to rig
the rules of the economic game, undermining
democracy and creating a world where the 85 richest
people who own the wealth of half of the worlds
population, Oxfam claimed.
It further added that since the late 1970s, tax rates for
the richest have fallen in 29 of the 30 countries for
which data are available, meaning that in many places
the rich not only get more money but also pay less tax
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