Global Economic outlook dim, but developing world to grow
The world economy faces a period of weak growth until the end of 2009, participants of the World Economic Forum’s Annual Meeting of the New Champions 2008 were told today. The US may see a recession, but China and other emerging and developing economies can still drive expansion.
“We are looking now to the larger, faster-growing economies to take up the slack,” said Peter Mandelson, Commissioner, Trade, European Commission, Brussels. “We need them to be sources of liquidity, of demand, of investment, of confidence in the global economy.”
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