The document discusses the global economic crisis and its effects. It provides an overview of how various economies around the world have been impacted, including declines in GDP in the US, Japan, Germany, South Africa, Brazil, and China's exports falling 25%. The World Bank president calls for increased financial aid to developing countries affected by the crisis. The document also discusses efforts to support East Asian economies and the organization's two-pronged strategy to support existing economic development efforts and proactively promote new opportunities.