Furthermore, the privatization process is now well advanced in most countries, with the share of the private sector in GDP coming to between 55 and 75%. At the same time, challenges remain in several areas. •  First, despite strong economic growth, unemployment has remained pronounced across the region, reaching levels as high as around 40% in some countries.
IV. Issues facing the global economy and Japan's economy in the medium to long term  Looking back on major trends in the global economy, we find that the rise in crude oil prices nearly coincides with the overheating in the markets for securitized products, including those backed by subprime loans.