CIAO DATE: 08/2014
March 2009
What started last year as a growing international credit crunch and, by September, a global banking crisis has now spread into the real economy. International trade, investment and economic growth are all contracting. A drastic curtailment of credit, collapsing global demand and a loss of trade finance is having a devastating economic effect on both the developed and developing worlds, especially those economies that are heavily dependent on exports.
Resource link: G20 Report: Stimulus and Regulation Compromise Needed [PDF] - 1.3M