Despite concerns over surging crude oil prices and the weak euro, the global conomy remains in better shape now than it was in 1998, when it was hit by the Asian financial crisis that broke out the previous year, the Economic Planning Agency said Tuesday.
In its fiscal 2000 white paper on the world economy, the EPA said many countries and regions are enjoying growth while rapid developments in information technology, such as growing use of the Internet and mobile phones, have had a major impact on global labor markets.
"Given the developments in IT and globalization of the economy, companies are seeking qualified employees with knowledge and skills while workers are required to improve their abilities in order to expand their working opportunities and incomes," the EPA said.