The global economy will most likely contract this year for the first time since World War II.
The recovery will take longer than expected.
Unemployment is one of the biggest problems of the crisis.
The recovery will be slower than in previous crises, leading to a slow decrease in unemployment.
The forecast imply that unemployment will reach a pick only at the end of 2010.
So now the economy is close to the middle of crisis.
The reason of such quick crisis' spreading is globalisation.
In good time globalisation spreads benefits but in time of crisis it spreads problems.
One more reason is that a lot of economies are based on frail policies which have collapses, resulting in a global crisis.
But the first reason is uncontrolled credit expansion at western countries.
People sharply contracted their spending, which resulted in decries of customer demand.
From another side destruction of the world peace also brings to economic contraction.
In this situation main role played richer nation which took natural resources from the under developed countries.
The recession struck with force the internationally based business.
Such companies had to reorganize their operations a lot.
Millions of working people were required to quit their jobs.
Businesses around the globe were hit so hard by the economic crisis that several businesses had to seek monetary assistance from the government in order to survive.
Several industries were in danger and the others were facing the risk of bankruptcy.
Businesses that can survive this economic recession in a better way are basically small and medium businesses.
The recovery will take longer than expected.
Unemployment is one of the biggest problems of the crisis.
The recovery will be slower than in previous crises, leading to a slow decrease in unemployment.
The forecast imply that unemployment will reach a pick only at the end of 2010.
So now the economy is close to the middle of crisis.
The reason of such quick crisis' spreading is globalisation.
In good time globalisation spreads benefits but in time of crisis it spreads problems.
One more reason is that a lot of economies are based on frail policies which have collapses, resulting in a global crisis.
But the first reason is uncontrolled credit expansion at western countries.
People sharply contracted their spending, which resulted in decries of customer demand.
From another side destruction of the world peace also brings to economic contraction.
In this situation main role played richer nation which took natural resources from the under developed countries.
The recession struck with force the internationally based business.
Such companies had to reorganize their operations a lot.
Millions of working people were required to quit their jobs.
Businesses around the globe were hit so hard by the economic crisis that several businesses had to seek monetary assistance from the government in order to survive.
Several industries were in danger and the others were facing the risk of bankruptcy.
Businesses that can survive this economic recession in a better way are basically small and medium businesses.
Source...