The credit crunch is hitting the income of the world's poorest people the most and will make the UN's Millennium Development Goals more difficult to achieve than ever, according to research released today. The Global Monitoring Report from Unesco estimates the 390 million poorest Africans will see their income drop by around 20% - far more than in the developed world.
There is an old African saying that I have heard - "when elephants fight, it's the grass that gets trampled". The wealthy nations caused this economic collapse, but the poor, who had least to do with creating the boom or its subsequent bust, suffer the worst.
I have said more on this elsewhere, and for now no more needs to be said.
History repeats itself.