Zimmetro -- In 1997-1998, Asia was hit by economic crisis resulted from currency devaluation and huge foreign debts, with the foreign debt-to-GDP ratios of the four largest Association of Southeast Asian Nations (ASEAN) economies stood at 167% before the crisis (in comparison, the U.S. debt-to-GDP is 110% now). It was a hard time but Asia recovered, learnt its lesson, and now emerged stronger than before.

Zimmetro -- India, the smallest economy of the four BRIC nations (Brazil, Russia, India & China), saw its GDP surged past the entire African continent last year. It effectively means any of the four now has a bigger economy than all the 54 African states combined. In 2010, Indian GDP stood at $1.724 trillion while the 54 states in Africa worth $1.759 trillion (including Somalia and Western Sahara) Both experienced a slowdown in GDP growth last year amid the global financial crisis, with the Indian GDP in 2011 growing 6.9% (down from the projected 8.5%), while Africa on average grew 3.7% (down from the forecast 4.9%)

Zimbabwe – Harare – Looking down the gun barrel of a real sloth-like economy, increasing un- employment and political incongruity, unquestionably the South African govern- ment has played a savvy card that could possibly very well bring about a level of amity to private and public economic interplaying, along with buy-in from trade unions along with the financial sector.

The actual execute is in gaining business and labour to help support an initiative that seeks to boost the manufacturing industry through maximizing the domestic demand for South African-made items, creating newer job opportunities simultaneously.

Also, it is intended to stimulate the smaller enterprise industry and produce the government and private sectors jointly in a united public-private interrelationship to accomplish a plethora of needed essential advocations.

Zimmetro -- While the four BRIC nations are expected to record a slower growth next year amid ongoing global economic crisis, India is projected to be hit hardest. Not only the Indian Rupee is currently Asia's worst performing currency, its stock market index, the BSE Index, dropped 22 percent this year - one of world’s worst performers. Inflation is fast running out of control with the Reserve Bank of India raising interest rates 13 times since early 2010.

Zimbabwean Education Minister David Coltart met Tuesday with teachers union leaders to discuss incentives paid to teachers by parents and local school associations to top off very low salaries, concluding that such a payments system is not sustainable.

Coltart and the unions did not agreed to end such incentives, but agreed that a meeting involving parents, students and teachers should be held next month on the issue. Some teachers recently staged informal work stoppages to protest reduced incentives.

Coltart called the crisis meeting after union leaders blamed him for maintaining a policy that had produced inequality and dissatisfaction among teachers as those in rural areas do not receive such payments, some urban parents cannot afford to make them.

Teachers in urban schools receive between $150 and $400 in incentives depending on their schools, plus a monthly salary of more than $300 from the government.

Zimbabwe Teachers Association Chief Executive Sifiso Ndlovu said the meeting coming up is likely to propose re-introducing rural allowances to equalize salaries, cut back on incentives, or urge the government to increase teacher salaries across the board.

Education Minister Coltart said his ministry agrees with the unions, but said incentives should not be scrapped until another solution to low salaries in place. Otherwise, said the minister, the quality of public education could be compromised.

Coltart said he hoped the stakeholders meeting on incentives will make recommendations that his ministry can integrate into its national education policies.

Zimbabwean Education Minister David Coltart met Tuesday with teachers union leaders to discuss incentives paid to teachers by parents and local school associations to top off very low salaries, concluding that such a payments system is not sustainable.

Coltart and the unions did not agreed to end such incentives, but agreed that a meeting involving parents, students and teachers should be held next month on the issue. Some teachers recently staged informal work stoppages to protest reduced incentives.

Coltart called the crisis meeting after union leaders blamed him for maintaining a policy that had produced inequality and dissatisfaction among teachers as those in rural areas do not receive such payments, some urban parents cannot afford to make them.

Teachers in urban schools receive between $150 and $400 in incentives depending on their schools, plus a monthly salary of more than $300 from the government.

Zimbabwe Teachers Association Chief Executive Sifiso Ndlovu said the meeting coming up is likely to propose re-introducing rural allowances to equalize salaries, cut back on incentives, or urge the government to increase teacher salaries across the board.

Education Minister Coltart said his ministry agrees with the unions, but said incentives should not be scrapped until another solution to low salaries in place. Otherwise, said the minister, the quality of public education could be compromised.

Coltart said he hoped the stakeholders meeting on incentives will make recommendations that his ministry can integrate into its national education policies.