Friday, 30 Jan, 2009 Current Events

Microsoft Founder Predicts Four-Year Recession


The founder of the software giant Microsoft, Bill Gates, recently told the British Broadcasting Corporation that economies would have to handle the global economic downturn for at least four years.

According to Bill Gates, the economies will register an upturn as a result of revolutions in the fields of science and technology. In his speech at the World Economic Forum, where Gates is promoting his charitable foundation, Microsoft's founder outlined that people living in poor countries do not have the time to wait for the economic revival and help should come from the philanthropists that would urge governments, companies and ordinary people to donate what they can.

It is worth mentioning that currently Bill Gates is the richest philanthropist on the planet. He outlined that the present economic downturn led to the fact that the Bill and Melinda Gates Foundation lost 20 percent of its value.

Although he predicted that the economic upturn will take place in at least four years, Gates stated that the basics of the global economic system remained unaffected. According to Gates, Capitalism pushed opportunity and innovation and in the next 5 to 10 years the world will see a huge development in medicine, genetics and software.

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