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How to create jobs for the world’s 1.2 billion new workers
It’s not simply a development challenge, but a national security one as well, when on current trajectories, only 400 million jobs are likely to be created.
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Students attending a class at a coaching institute training students to secure government jobs, in Prayagraj, India.
PHOTO: REUTERS
Ajay Banga
The world moves on different wavelengths. Some are high-frequency shocks – wars, emerging technologies, market panics – that spike quickly and dominate our attention. Others are low-frequency forces that move slowly but relentlessly: demographics, globalisation, water and food scarcity.
The high-frequency waves feel urgent. The low-frequency waves reshape the system.
