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Published on Feb 17, 2009
Martin Khor on the Global Economic Meltdown: "We Could Have One Billion More People in the Developing World Plunging into New Poverty Because of this Crisis"
President Obama is scheduled to sign the $787 billion economic stimulus plan into law at a ceremony in Denver today. Tomorrow in Phoenix, Obama is expected to tackle the home mortgage crisis and roll out a plan to stem the huge rise in foreclosures. While there has been much discussion in the media on the state of the US economy, what about the rest of the world? From Greece to Guadeloupe, from Italy to Indonesia, from Chile to China, from Egypt to India, countries across the globe are feeling the heat of the recession that started over a year ago in the United States. We speak to economist Martin Khor of the Third World Network based in Malaysia. [includes rush transcript]