Gordon Brown: world heading for another collapse
Business digest: Former PM warns the lessons of 2008 financial crisis have not been learned
Former prime minister Gordon Brown has warned that the global economy is on course for another financial crisis, unless world leaders take more action.
"In 2008, when we were hours away from ATMs running out of money, small businesses being unable to pay their staffs, and schools and hospitals closing down through lack of cash flow, it felt as if the crisis of the century was upon us," Brown writes in Newsweek magazine.
"But if the world continues on its current path," he continues, "the historians of the future will say that the great financial collapse of three years ago was simply the trailer for a succession of avoidable crises that eroded popular consent for globalisation itself.
Brown says the West must invest heavily in technology, science, and education so that it can sell high-value goods to the newly enriched Asian markets.
Read a full report at Newsweek. ·
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