Top Scoops

Book Reviews | Gordon Campbell | Scoop News | Wellington Scoop | Community Scoop | Search

 

World Bank, US State Dept. Warn Of Big Y2K Crisis

Only 15% of 139 developing countries had taken steps to fix Year 2000 computer date rollover problems warns the World Bank. Don't expect global economic growth to continue. John Howard reports.

Coupled with the World Bank's forecasts, the US State Department says half of the 161 countries it examined are believed to face a medium-to-high risk of experiencing failures in their telecomunications, energy and/or transportation because of year 2000 computer glitches.

While an on-going Cap Gemini study, who surveyed 140 executives at major companies, reveals that fewer than half of America's largest companies (48%) expect to have their critical systems prepared for the year 2000.

The current global economic growth is expected to slow significantly in the first two quarters of 2000 due to companies putting IT development on hold and because present stockpiling of goods and materials already on site will be need to used up first, even if nothing happens.

The present global economic growth is partly attributed to companies stockpiling things like paper, coal, oil and other raw materials. On the other side of the ledger, stock market investors, while seeing a growing bubble, don't seem interested in y2k seeming to just want to make more money.

William Ulrich of IT company, Systems Transformation, says by April 15, 2000, some of the initial impacts of the Year 2000 problem will have dissipated. Many others, he believes, will have a cascading effect into a series of long-term systemic challenges.

"Most of the scenario planning around y2k has focused on the 24-hour period which begins on December 31 and ends on January 1," he said. But he added that the inter-connectedness of computers globally will see secondary impacts manifesting themselves over weeks and months.

"Scenarios are likely to play out in a slow buildup through a cascading effect of interconnected events and then slowly reside," Mr Ulrich said.

It seems consumers may need a lot more patience next year.


ends

© Scoop Media

 
 
 
Top Scoops Headlines

 

Binoy Kampmark: Foreseeable Risk: Omicron Makes Its Viral Debut
It has been written about more times than any care to remember. Pliny the Elder, that old cheek, told us that Africa always tended to bring forth something new: Semper aliquid novi Africam adferre. The suggestion was directed to hybrid animals, but in the weird pandemic wonderland that is COVID-19, all continents now find themselves bringing forth their types, making their contributions. It just so happens that it’s southern Africa’s turn... More>>


Binoy Kampmark: Totalitarian Cyber-Creep: Mark Zuckerberg In The Metaverse

Never leave matters of maturity to the Peter Panners of Silicon Valley. At their most benign, they are easily dismissed as potty and keyboard mad. At their worst, their fantasies assume the noxious, demonic forms that reduce all users of their technology to units of information and flashes of data... More>>

Keith Rankin: 'Influenza' Pandemics In New Zealand's Past
On Tuesday (16 Nov) I was concerned to hear this story on RNZ's Checkpoint (National distances itself from ex-MP after video with discredited academic). My concern here is not particularly with the "discredited academic", although no academic should suffer this kind of casual public slur. (Should we go further and call Simon Thornley, the academic slurred, a 'trailing epidemiologist'? In contrast to the epithet 'leading epidemiologist', as applied to Rod Jackson in this story from Newshub.) Academics should parley through argument, not insult... More>>



Gasbagging In Glasgow: COP26 And Phasing Down Coal

Words can provide sharp traps, fettering language and caging definitions. They can also speak to freedom of action and permissiveness. At COP26, that permissiveness was all the more present in the haggling ahead of what would become the Glasgow Climate Pact... More>>

Globetrotter: Why Julian Assange’s Inhumane Prosecution Imperils Justice For Us All

When I first saw Julian Assange in Belmarsh prison, in 2019, shortly after he had been dragged from his refuge in the Ecuadorean embassy, he said, “I think I am losing my mind.”
He was gaunt and emaciated, his eyes hollow and the thinness of his arms was emphasized by a yellow identifying cloth tied around his left arm... More>>

Dunne Speaks: Labour's High Water Mark
If I were still a member of the Labour Party I would be feeling a little concerned after this week’s Colmar Brunton public opinion poll. Not because the poll suggested Labour is going to lose office any time soon – it did not – nor because it showed other parties doing better – they are not... More>>