India's Prime Minister says rich nations suffering from too much

India's Prime Minister Atal Behari Vajpayee has called for greater global technological cooperation, saying rich nations are suffering from a crisis of abundance.

Mr Vajpayee told delegates at the opening of the Asia Technology Future conference in Bangalore that technology is continually increasing the productivity of the business of rich nations.

He said however, these economies were growing too slowly to absorb the new productivity, which was resulting in the frequent cycles of recessions, layoffs and unemployment.

He warned that rich nations were witnessing a technology-induced crisis of abundance, which could be absorbed by developing nations.

12/03/01 4:01:19 | ABC Radio Australia News

More Asia Breaking News 24/10/2002 10:06:31 Australia wants UN to ban J-I 24/10/2002 10:06:20 National Bali memorial service in Australia's capital 24/10/2002 10:06:21 Washington outlaws Jemaah Islamiyah 24/10/2002 10:06:27 Australia reveals that a terrorist web operates in the region 24/10/2002 10:06:29 An improvement in relations between Hanoi and The Vatican 24/10/2002 10:06:31 East Timor ready to complete energy deal with Australia

Back

Related Stories

12/03/01 4:01:38
Forty die as bus explodes in southern India

11/03/01 12:00:42
Kofi Annan calls for Pakistan and India to improve relations

9/03/01 11:11:06
Separtist violence claims 16 lives in Kashmir

9/03/01 6:11:19
More clashes in India's Jammu and Kashmir state

9/03/01 8:20:39
Aussie cricketers arrive in Calcutta for second Test

Related Sites

World News from Radio Australia
News across Asia, the Pacific and beyond.