Accra, May 15, GNA - Former World Bank President, Mr James Wolfensohn on Wednesday urged the world community to bridge the increasing inequity between rich and poor nations.
In a public lecture at the University of Ghana, Legon, Mr Wolfensohn predicted a leap of most underdeveloped countries to take the lead in development in the next 50 years, but cautioned against complacency to avert stagnated development.
The lecture on the theme: "Our Changing World, Will the 21st Century be the Global Century?" is the first of this year's series of the Aggrey-Frazer- Guggisberg Memorial Lectures of the University. It was instituted in 1957 to honour the three personalities for their role in developing post-basic education in Ghana.
This year's lecture, which was attended by President John Agyekum Kufuor, former Vice Chancellors of the University and other dons, formed part of the 60th Anniversary celebration of the University. Mr Wolfensohn acknowledged that the economy held people together, and that China, India and other countries in the East were budding economic giants with the increasing population in African countries bringing about major economic changes globally.
He said it was important that nations would not only examine their past but also look into their future, as they dug deeper into their economic and development analysis.
The former World Bank Chief said about 80 per cent of the World's Gross Domestic Product (GDP) was still resting in the hands of the world's richest countries such as USA, Canada and Australia. He said the economic activity would also move from the West to the East adding that the present world economic activities would be challenged by inequity, environmental degradation, increase in energy prices and the adoption of protectionist stances. Mr Wolfensohn said the increase in life expectancy in China and India meant increased avenues for education.
Professor Clifford Nii Boi Tagoe, Vice Chancellor of the University, said Africa had to form partnerships for success.
