The document summarizes the current state of the world economy, focusing on several countries. The world economy is experiencing a major downturn and recession as global GDP decreases and prices fall. While Australia and Panama are doing well due to stimulus and economic growth, the United States is struggling with high war spending and debt. Iceland's economy collapsed due to the financial crisis and it had to take out loans to deal with inflation. Germany has the highest GDP in Europe and relies heavily on exports, which account for over a third of its output.

1. World Economy By: Kelsey Winchester 3 rd block

2. Current World Economy The current state of the world economy is very bad. We are reaching a major downturn in the face of the most dangerous shock in mature financial markets since the 1930s. Some current world indicators is the gross domestic product which has decreased rapidly and prices have gone down because everyone needs money but no one has it to spend.

3. Australia Australia’s economy is doing very well because… Their money could exceed 2 billion dollars. The economy is booming because of a stimulus.

4. Panama Panama is another country that is doing well because… Their GDP will exceed 20 billion. Their economic growth will exceed 9.5%.

5. United States The United States is not doing well because… We are lending too much money to the war and other countries and housing We owe countries billions of dollars because of the war effort.

6. Iceland Iceland is doing very bad economically because of… coalition government of Iceland collapsed a week after admitting the extent to which the freeze in financial markets had ruined its economy. Inflation occurs because of a 2.1 billion loan package.

7. Germany Germany has the highest GDP in Europe right now at 19,339. This country is doing so well because the German economy is heavily export-oriented; as of 2008, Germany is the world's leading exporter of merchandise, and exports account for more than one-third of national output. As a result, exports traditionally have been a key element in German macroeconomic expansion.