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But it won't create jobs in developing countries.
–Why do some companies in developed nations "outsource" jobs in developing countries?
The International Finance Corporation estimates that some 90% of jobs in developing countries will come from the private sector.
Supporting SMEs – which provide about two-thirds of the formal jobs in developing countries and the majority of jobs overall – can significantly add to job growth.
Business has a crucial role to play in the SDGs: it creates 60% of GDP, 80% of capital flows, and 90% of jobs in developing countries, after all.
The Overseas Development Institute has pored over the evidence and distilled country studies into five lessons for policymakers trying to boost jobs in developing countries.
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About a third of jobs in developed economies like Britain may be lost to globalisation.
Unemployment numbers also tend to reflect the loss of jobs in developed nations that track such figures much more closely.
What we are seeing is a scissor effect: rising loss of jobs in developed countries and rising mortality rate in developing countries.
Outsourcing may not have destroyed many jobs in developed economies, but the threat that firms could produce offshore helps to keep a lid on wages.
Profits don't lead to higher wages or new jobs in developed countries, where in the words of the International Labour organisation, "Almost everywhere, young people and women find it difficult to obtain jobs that match their skills and aspirations".
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