Global economic growth will slow in 2008 as the credit crunch hits the richest countries, according to the World Bank. But higher growth in developing countries, particular China, will cushion the slowdown. It expects US growth to slow sharply to 1% in the first half os 2008 but recover quickly by 2009. Overall, the industrialised countries are expected to grow by 2.2% this year. In contrast, China is expected to grow by 10% over the next two years, with India not far behind.However, it warns there is also a risk on the "upside", with the economic boom leading to accelerating inflation and an over-valued stock market in China and other emerging markets.
http://news.bbc.co.uk/1/hi/business/7177397.stm
http://www.guardian.co.uk/business/2008/jan/09/globaleconomy.worldbank
1 comment:
see i told you iv been on the site. do you know of any sites that will help with unit 2 revision, i just need basic vocab, tutor2u doesn't seem to work in the school computers and my laptop stopped working. iv tries looking in the revision textbooks but they don't explain things clearly
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