Although there has been a lot of recovery from the 2008 financial crisis there are still many countries with fragile economies.
Argentina has 29% inflation and 9.1% unemployment.
South Africa has 27% unemployment and there were predictions that some cities were on the brink of collapse.
Turkey’s currency has lost nearly 40% of its value against the dollar this year. Turkey has 9.6% unemployment and 12.8% inflation.
Turkey’s external debt reached $466.67 billion, or 53% of its gross domestic product, at the end of March with about one-fourth in short-term debt which will come due within the year, reported Anadolu Agency, a government-run news agency. In comparison, Deutsche Bank estimates Turkey’s foreign currency-denominated debt at closer to 70% of GDP.
There is a concern that if Turkey defaults on the debt that it could cause problems.
Greece still has 20.2 unemployment. Greece was at the center of the 2008 financial crisis and has barely recovered.
Spain has 15.2% unemployment.
Egypt, Brazil and Portugal have high unemployment and other economic weaknesses.
Brian Wang is a Futurist Thought Leader and a popular Science blogger with 1 million readers per month. His blog Nextbigfuture.com is ranked #1 Science News Blog. It covers many disruptive technology and trends including Space, Robotics, Artificial Intelligence, Medicine, Anti-aging Biotechnology, and Nanotechnology.
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