World Bank offers dire forecast for world economy

By Josh Emberton

The World Bank made a predication that the 'Global Economy will shrink in 2009, the first time since World War II.' This is not the sunny, optimistic picture about the current economic crisis that the World would want to hear. This would be what our current president means when he says that we have tough times ahead. This article only clarifies it a little bit better.

The World Bank has asked for the better developed Countries to create something called a 'Vulnerability fund' for their lesser developed counterparts. The economic crisis has hit these countries harder than the West. The World Bank estimated that the financial gap for these countries ranged anywhere from 270 billion to 700 billion.

The reason it is important to not forget these countries and just let them fold under this financial gap is because this is a global economic crisis. The only wait to fight this global problem is to put forth a global solution. If these countries were to fold then the larger countries themselves would feel the ripple effect.

As we have learned now that with the development of technologies, the world has become increasingly more dependent upon eachother. The world as a whole benefits from the increased stability of its weakest members. This global economic crisis could increased many of the worlds problems like transnational crime for example. Its not only wise but in our interest to ensure that these countries do not meet disaster.