Developing nations growth weakening, says World Bank

Stat of the day: 5.3%. Despite their strength relative to stagnating developed economies, newly industrialising nations' (NICs) economies are slowing down, thanks to the global financial crisis.

by Michael Northcott
Last Updated: 09 Oct 2013

Booming growth in developing nations was only going to last so long if several of the major eurozone economies fell back into recession and demand for imported goods took a dip. And the World Bank has now confirmed this suspicion, saying that developing economies’ growth will fall to 5.3% this year from 6.1% in 2011. 

Its forecast has been influenced by the spiralling debt crisis in Europe. Spain is the continent’s fourth-largest economy and the latest to suffer a major recession and banking collapse. It has dampened the market for goods produced in India, China and Brazil. The same chill is being felt from Greece (which is practically broke), and even better off countries’ appetite for imports is waning.

With eastern juggernauts feeling the pinch, Merkel and Friends will need to combat this crisis as quickly as possible, or risk sinking deeper to the mire…

Find this article useful?

Get more great articles like this in your inbox every lunchtime

A mini case study in horizon scanning

Swissgrid has instituted smart risk management systems for spotting things that could go wrong before...

Interview ghosting: Stop treating job seekers like bad dates

Don’t underestimate the business impact of a simple rejection letter.

5 avoidable corporate disasters

And the lessons to learn from them.

Dressing to impress: One for the dustbin of history?

Opinion: Businesswomen are embracing comfort without sacrificing impact. Returning to the office shouldn't change that....

How to motivate people from a distance

Recognising success in a remote or hybrid environment requires a little creativity, says Insight SVP...

What pushy fish can teach you about influence at work

Research into marine power struggles casts light on the role of influence and dominant bosses...