As capitalism appears to be on the way out, what can be on its way to replace it?

If nothing else is gained by today’s G2O conference, one thing that it appears likely to do is to signal the ending of unfettered capitalism. What those world economic leaders will be trying to achieve over the next couple of days is to set the global economy back on track. Everyone knows that the best way to put out this fire is to throw money at it, and while Brown and Obama are convince that this is the only option, there are a few others who are reluctant to follow suit.

Whatever happens, the recession will eventually wind down. Yet what remains highly uncertain is what will come in its place.

Once group who are offering what appears to be a reasonable solution to at least some of the problems is the GSM Association industry group?

GSMA certainly do span the global stage, represented in no less than 219 countries. Uniting more than 750 of the world’s mobile operators, GSMA represents the interests of the worldwide mobile communications industry. ,

Executives of GSMA firmly believe that the global telecoms industry have all the tools at their disposal to help push the world out of the current depression, and intend to create 25 million jobs over the coming five years to do so. All they ask in return is that current industry regulations are to become less invasive on the privacy of the industry’s clientele, which represents at least half of the world’s population. As the number of people who will be exposed to mobile technology is only expected to grow in leaps and bounds over the coming years, it will come as no surprise to discover that the GSMA intend to put their money where their mouth is, by undertaking to invest 380 billion pounds in building mobile broadband networks. To give an indication of the seriousness and massive scale of this offer is to understand that the sum will represent, between 3 percent to 4 percent of the World’s GDP over the five year period.

The GSM Association industry group foresees a golden future for mobile telecommunications and has set themselves a target to link up around two and a half billion people to the mobile grid across the globe. They intend to bring communications to areas of the planet where currently there is no possibility of connecting entire populations due to the unfeasibility of putting down land lines. Mobile telecommunications will undoubtedly change the World and the more people exposed to it the better it can only be for economies of the developing nations and consequently the G20 nations, who are currently thinking how did it all go wrong..

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Tags: Credit Crunch, G2O conference, Global Credit Crisis, Gordon Brown, Obama, UK Recession