Monday, March 9, 2009

Today's Fly Or Die Commerce Report: The Global Stimulus Plan

The United States is seeking a coordinated effort from the other countries on the planet to bolster the global economy. America reportedly wants to persuade countries to increase their emergency governmental spending so that more money is circulating globally.

Economists predict that several European countries will resist this strategy. Germany wants to curb governmental lending, fearing that other countries are racking up debt they may not be able to pay off. Other European countries reportedly want to focus on regulating financial markets.

There is a possibility that these financial issues and dilemmas could be hashed out early next month during the Group of 20 Summit- where the globe's wealthiest nations meet. This meeting will be a test of how well President Obama will be able to use his diplomacy to push his financial agenda.

How the nations of the world coalesce to handle the economy will be interesting. According to The Wall Street Journal, "The World Bank said global [Gross Domestic Product] will decline this year for the first time since World War II."

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