Word: globalization
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Dates: during 2000-2009
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Swimming Against the Tide: How Developing Countries are Coping with the Global Crisis" The World Bank 21 pages Download...
...World Bank said it first: in 2009, the global economy will contract for the first time since World War II. That's the banner headline of the international financial group's March 9 report, but, particularly for developing countries, the devil runs rampant through the details. (Really, when a report is titled "Swimming Against the Tide," you know there's not much good news forthcoming.) The World Bank paints a downright dismal picture of the growth prospects for developing countries, which are just now beginning to feel the full repercussions of the credit crisis that started in the United States...
...global economic outlook: "Global industrial production declined by 20 percent in the fourth quarter of 2008 ... Global GDP will decline this year for the first time since World War II, with growth at least 5 percentage points below potential...
...impact on global trade: "Falling demand in advanced economies has had serious implications for global trade, with 2009 expected to experience the first yearly decline in world trade volumes since 1982, the largest decline in 80 years...
...former hedge-fund backers aren't particularly happy. As Dodd and House Financial Services Committee chairman Barney Frank work to craft legislation overhauling the nation's banking and securities regulations, Dodd's populist ploys give many on Wall Street pause. "The competition for capital and talent is now global. What we saw when the Senate inserted the executive-compensation restrictions was a cause and effect," Tom Quaadman, who works on financial-sector issues at the U.S. Chamber of Commerce, says, pointing to examples of companies like Deutsche Bank and UBS poaching U.S. talent driven away by the new rules. Looking...