The writer is managing director of the International Finance Corporation
The global economy faces a profound imbalance. Capital continues to pool in a handful of markets, while vast reserves of human potential in developing countries remain underutilised.
Over the next decade, 1.2bn young people — mostly in emerging and developing economies — will enter the workforce. Yet current economic structures will generate only 420mn new jobs. This isn’t simply a development challenge. It’s a structural risk to the global economy. Unemployment and underemployment of this scale strain political systems, fuel migration and expose the fragility of global supply chains.
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