The rich and the powerful, who meet every year at the World Economic Forum (WEF), were in a gloomy mood this time. Not only because the day they met close to eight trillion dollars has been wiped off global equity markets by a "correction". But because no leader could be in a buoyant mood.
In a populous archipelago nation like Indonesia, where 250 million live spread across some 17,500 islands, speaking over 300 languages, the question of development is a tricky one.
When the World Economic Forum (WEF) met last January in Switzerland, attended mostly by the rich and the super-rich, the London-based charity Oxfam unveiled a report with an alarming statistic: if current trends continue, the world’s richest one percent would own more than 50 percent of the world’s wealth by 2016.
According to census data released this month, a whopping 160 million women in India, 88 percent of who are of working age (15 to 59 years), are confined to their homes performing ‘household duties’ rather than gainfully employed in the formal job sector.