The global economy experienced its deepest recession since WWII in late 2008 and early 2009, as evidenced by double-digit declines in GDP across major economies like the US, Japan, Germany, and South Africa. Exports also contracted sharply in countries like China and Brazil. The World Bank President called for increased financial aid to developing countries impacted by a crisis they did not cause, and emphasized that empowering developing economies and helping them pursue long-term prosperity should be the goal of development finance. Commodity prices significantly declined from recent highs, with oil falling over 60% and wheat dropping over 70%, while gold held steady and alternative energy sources like corn lost value.

1. Global economy from boom to bustUnited States has been in recession since December 2007 Deepest global recession since WWII.Japan’s GDP dropped an unprecedented 13.7% in Q42008Germany’s GDP fell by 8% in Q42008.South Africa’s exports contracted 16% In JanuaryChina’s exports fell 25% in Feb 2009Brazil’s GDP contracted 3.6% in the fourth quarter

2. World Bank calls for aid boostThe World Bank President called on donors to boost financial aid to developing nations which find themselves at the mercy of a crisis that “is not of their making”Empowering developing and emerging countries and economies is imperativeHelping nations pursue economic development and long-term prosperity should be the goal of development finance.

3. Commodities marketOil - $56.45 vs. recent high of $147.96Gold has been rather steady, around $850.Wheat fell back to $5 after visiting $18 in just less than 6 months!Alternative energy resource such as corn has lost its value