Massive job loss due to automation will be followed equally by the creation of new jobs. – NSTP/File pic LETTERS: THE world economy has been slowing down since its recovery from the 2007 to 2008 Financial Crisis, hovering between 3.5 and 3.9 per cent of gross domestic product (GDP) growth and dipping to 2.9 per cent last year.
It is expected to dip to -3 per cent this year. To boost its growth, countries embarked on massive global infrastructure spending to US$94 trillion by 2040.
Unfortunately, the economy is still slowing down. There are three explanations: First, the widening wealth gap. […]