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Submitted by Aly Nazerali on

I believe that if the international community, including those doing relatively well (or those with surplus savings) viz. BRICS, Japan, Middle East, were able to focus soon on and thus move beyond the immediate context of restoring faith in the financial system, a few key fundamentals have to be addressed all of which would argue for additional development investments (not just aid) in the poorer countries. These are:

1) Addressing the more recent first time phenomenon of global supply exceeding global demand;

2) Savings not being translated sufficiently into productive investments;

3) Ensuring that the gap between the global productive base and consumption (especially through debt let alone debt passed on further to 'bad' debt sectors) doe not grow to the extent that has been allowed to date- for which probably some added financial architecture would be required.

Fundamentally this should be "the case" to intensive efforts to 'connect the poor to growth'; ensure that 'growth benefits reach the poor' for those who cannot connect to it; build more of the equivalent of the 'aspiring' class (as India refers to it) and where possible invest in formalising this connect (for multiplier effects to take place, enhance the tax base etc).