The state of human development

From Brazil to South Africa to India to China, the largest developing countries have become major drivers of the global economy. In 2012, however, even the most vigorous economies of the South began to be affected by the financial problems of the North. Struggling to emerge from a debt crisis and large budget deficits, many developed countries are imposing severe austerity programmes that are not only causing hardship for their own citizens, but are also undermining the human development prospects of millions of other people across the world.

Related Subject(s): Economic and Social Development