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This is Money
World trade is beginning to recover after a devastating slump in 2009, the World Trade Organisation said, but the pick-up in the movement of goods is happening in Asia. Europe and North America are lagging far behind.
Asia emerges from global slump in trade, but West lags far behind
World trade fell by 12 per cent last year - the biggest drop since the Second World War - according to the World Trade Organisation (WTO). The level of trade between nations had been expected to decline by 10 per cent in 2009. Pascal Lamy, the director-general of the WTO, said the sharp fall made it economically imperative" to conclude the Doha Round international trade talks this year.
World trade suffers biggest drop since 1945
Greece has greatly damaged its chances of an EU bail-out by lashing out at Germany over war-time atrocities and accusing Italy of cooking its books to hide public debt.
Greek rescue in danger as deputy prime minister attacks 'Nazi' Germany
Ben Bernanke, the Federal Reserve chairman, told Congress on Wednesday that a weak job market and low inflation would likely allow the central bank to keep interest rates at very low levels for "an extended period".
Ben Bernanke expects rates to stay low for a long time
With the economy barely crawling out of recession, a rapid fiscal retrenchment would be treated to a "savage" reaction in foreign exchange markets, according to a new report by strategists at Swiss bank UBS.
Pound faces a 'savage' reaction if deficit cut too aggressively, UBS warns