China, US to inject $20 bn to boost global commerce

China, US to inject $20 bn to boost global commerce

Fair trade. Help those who are the first to help themselves.

Global recession to continue into `09...
:eek:
Study: 2009 Likely to See Weakest Global Economy in Half-Century
Washington 22 December 2008 - In Washington, the Institute of International Finance, an association of world financial institutions, has issued a grim economic forecast, saying that all of the major economies are weak or in recession.

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The institute says global growth in 2009 will be negative for the first time since reliable statistics became available in 1960. Growth is projected to be minus four-tenths of one percent, compared to 2008 growth of nearly two percent. Philip Suttle prepared the forecast. “We have got the world economy contracting by just under a half percentage point, which really does not sound like very much," Suttle said. “But it is really, really important to recognize the world economy basically never contracts. Somewhere in the world economy there is always enough to offset recessions even in the major industrial countries."

Recession expected to continue in US, Japan, Western Europe

The current recession is projected to continue in the some of the world’s biggest economies - the United States, Western Europe and Japan. Each of those areas is projected to experience economic decline of about 1.5 percent in 2009. Growth is also decelerating sharply in emerging economies, with China’s growth projected to slow to 6.5 percent and India 5 percent. Economist Suttle says his biggest worry is weakness feeding on itself.

“One of the things that is so alarming about the current situation is how quickly things have changed," Suttle noted. “Just three or four months ago, we were projecting slow growth, but not an outright recession. And we have seen a change in conditions, which has not just been evident in the United States, but across every significant economy in the world."

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