Global economy, which increased by 3.9 percent in 2010, is expected to grow 3.3 percent this year and 3.6 percent in 2012, according to the Global Economic Prospects 2011, a report released by the World Bank on Wednesday."The world economy is entering into a new phase of recovery," said Justin Yifu Lin, the World Bank's chief economist and senior nike mercurial vapor fg vice president of development economics.According to the report, developing countries, which were leading engine of the global recovery after the financial crisis, are expected to grow 7 percent in 2010, 6 percent in 2011 and 6.1 percent in 2012."They will continue to outstrip growth in high-income countries, which is projected at 2.8 percent in 2010, 2.4 percent in 2011 and 2.7 percent in 2012."The report predicts China's economy, the biggest emerging economy, is to grow 8.0 percent this year and 7.8 percent in 2012.
"They were the ones who had the votes, so they had the strength to negotiate and the president presided over that. I feel no ownership of that or any responsibility to it, except that we do not want to shut down government."The debate on federal spending is dominating Washington. President Barack Obama on Wednesday outlined his strategy cheap timberland boots to cut $4 trillion from the nation's deficit during the next 12 years. He called for shared sacrifice and said the country cannot afford to maintain tax cuts for the wealthiest Americans that were enacted by his predecessor, George W. Bush. On Friday, House lawmakers are expected to vote on a Republican-sponsored budget plan for 2012 that the majority party says makes smart cuts that will stimulate the economy, while saving nearly bankrupt social programs.
But Democrats are opposed to the measure, saying the plan from House Budget Committee Chairman Paul Ryan cuts aid programs for senior citizens and low-income Americans.The G8 leaders urged Iran "to continuously comply with its obligations under the Nuclear Non-Proliferation Treaty, including its safeguards obligations," the declaration said. They also demanded Iran "address without timberland roll top boots delay" all outstanding issues related to its nuclear program, such as questions concerning possible military dimensions, while expressing the desire for "a peaceful and negotiated solution to concerns over Iran's nuclear program."