53 Million in ‘Emerging Markets’ Plunged into Poverty by Great Recession

A World Bank study has projected that the global financial crisis and resulting recession will plunge some 53 million people across “emerging markets” —like China and India— into absolute poverty, in 2009 alone. In China, tens of millions of people have lost jobs related to the export-dependent manufacturing sector. Such a collapse in private fortunes … Continue reading 53 Million in ‘Emerging Markets’ Plunged into Poverty by Great Recession