One Crisis, One World
Any crisis is also an opportunity. The current economic crisis has demonstrated that the destinies of countries around the world are linked, which means that policy coordination and a global strategy that instills confidence and creates hope will bring a quicker and stronger recovery to us all.
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GENEVA – As recession spreads around the world, the global production networks that arose with the globalization of the world economy have become sources of cutbacks and job losses. Postponing purchases of new winter coats in the United States means job losses in Poland or China. These losses then translate into reduced demand for American or German machine tools.