As the recession spreads far beyond the borders of the United States, both rich and poor countries will suffer a slump of unprecedented scale, the Bank said in its latest review of the world’s economic prospects. Global trade, the real engine of wealth generation, will contract for the first time since 1982. Read the whole … More World Bank: “World economy could shrink for first time since 1945”

As the recession spreads far beyond the borders of the United States, both rich and poor countries will suffer a slump of unprecedented scale, the Bank said in its latest review of the world’s economic prospects. Global trade, the real engine of wealth generation, will contract for the first time since 1982. Read the whole … More World Bank: "World economy could shrink for first time since 1945"