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on March 12, 2009 Source: Policy Dialogue on Entrepreneurship

File this under "I'm pretty sure everyone saw this coming":

The World Bank predicts that the global economy will enter recession this year for the first time since the Second World War. The Washington-based bank added that global trade was heading for its steepest decline in 80 years, and that the impact of the downturn would hit developing countries hardest, particularly in Asia. It said poor countries faced a financing shortfall of up to 700 billion dollars because private sector creditors have fled emerging markets due to the financial crisis. [source: Deutsche Welle]

Want a silver lining? Entrepreneurs will pull us out of it. Listen to Kauffman Foundation president and CEO Carl Schramm on CNBC's "Street Signs" yesterday:

Category:  General  Tags:  recession, recovery, cnbc, carl schramm

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