Emerging markets keep global economy afloat - World Bank

In its Global Economic Prospects 2008 publication, the World Bank notes real GDP growth in developing countries is expected to be to 7.1% in 2008, compared to just 2.2% in high-income countries. Global growth fell from 3.9% in 2006 to 3.6% last year, and is expected to be 3.3% in 2008. The World Bank says market volatility, the weak US dollar and recession fears are currently casting shadows over the world economy. But robust developing country growth, led by high commodity prices, has benefited many commodity exporters and driven growth in poorer countries. “Looking at trade, strong i...