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To: James Strauss who wrote (9504)	8/28/2001 12:34:57 PM
From: James Strauss	Respond to of 13094

World Recession? ************************* The world economy is probably already in recession. How bad might it get? ONE by one, economies around the world are stumbling. By cutting interest rates again this week—for the seventh time this year—the Federal Reserve hopes it can keep America out of recession. But in an increasing number of economies, from Japan and Taiwan to Mexico and Brazil, GDP is already shrinking. Global industrial production fell at an annual rate of 6% in the first half of 2001. The picture may soon look even worse. Early estimates suggest that gross world product, as a whole, may have contracted in the second quarter, for possibly the first time in two decades. Welcome to the first global recession of the 21st century. MORE >>>>>>>>> economist.com Jim