Automation threatens in India nearly 69 per cent of the jobs, while 77 per cent in China, as per World Bank research. It said that in developing countries technology may disrupt the pattern of traditional economic path.
“As we pursue to encourage more infrastructure investment to promote growth, there is a need to think about the infrastructure kinds that countries will require in the economy in the future. The fact is not new that technology has and will pursue to reshape the world,” said Jim Kim, the World Bank President.
However, the traditional economic path for all the developing countries from increasing agriculture productivity to light manufacturing and also full-scale industrialization may be impossible or difficult,” said Kim in response when he was asked at the Brookings Institute yesterday on extreme poverty.
“In large parts of Africa, technology could fundamentally upset this pattern. The World Bank data research has predicted the proportion of threaten to India by automation is 69 per cent and in China it is 77 per cent , while in Ethiopia, the jobs threatened percentage by automation is 85 per cent.
If this is considered to be the fact and if all these countries lose jobs, what will show economic growth to these countries must be understood said Kim.
Kim also said strides are being taken by countries such as china to end poverty and owing to the openness of the domestic industries. However, countries that are working together have shown good progress and there is a total progress, yet a slowing global economy may be hit by stagnating global trade, he added.