In the News (from Business Insider): “The global economy is in the worst shape since the dark days of 2009. Six of the 17 countries that use the euro currency are in recession. The U.S. economy is struggling again. And the economic superstars of the developing world — China, India and Brazil — are in no position to come to the rescue. They’re slowing, too.

“The lengthening shadow over the world’s economy illustrates one of the consequences of globalization: There’s nowhere to hide.

“Economies around the world have never been so tightly linked — which means that as one region weakens, others do, too. That’s why Europe’s slowdown is hurting factories in China. And why those Chinese factories are buying less iron ore from Brazil. …

“For now, few foresee another global recession. Central banks in China, Britain, Brazil, South Korea and Europe have cut interest rates in the past month to try to jolt growth. European leaders have begun to focus more on promoting growth, not just shrinking debt and cutting budgets. …

“Many fear that Greece and perhaps other countries will default on their debts and have to abandon the euro currency, which could ignite financial chaos across Europe. …

“In the latest wallop to the global economy, China said last week that its economic growth fell to a three-year low. The world’s second-largest economy grew 7.6 percent in the April-June quarter compared with the same quarter last year. That was the slowest growth since early 2009. Countries like China need fast growth to serve growing populations and millions of people leaving farms to seek work in cities.

“Brazil also has a U.S.-style problem with consumer debt: Since 2003, about 40 million Brazilians have entered the middle class and brought a strong appetite for consumption. Brazilian leaders credited those consumers with invigorating the economy in recent years and helping protect it from external shocks.

“But most of the buying has been on credit. And those bills are adding up. In a report last week, London-based Capital Economics estimated that debt payments now eat up 20 percent of household income in Brazil. …

“Similarly, the outlook has dimmed for India, the world’s fourth-biggest economy. Its growth slowed to a 5.3 percent annual rate in the first three months of 2012, the slowest rate in nine years. …

“The slowdown in the developing world could make it harder for the economies of Europe and the United States to climb out of their ruts. And the weaker the rich countries get, the harder it will be for developing economies to regain their old fast pace.

“’In today’s interconnected world, we can no longer afford to look only at what goes on within our national borders,” IMF Managing Director Christine Lagarde said earlier this month. ‘This crisis does not recognize borders. This crisis is knocking at all our doors.’”

My Comment: This is how the “Law of our natural development” teaches us; evolution teaches us through small sufferings; it teaches us that the world is round and we are interconnected in it, and that is why we need to think not only about ourselves, but about everyone like in one family. If we continue to be stubborn, suffering will increase and in spite of everything lead us towards unity, in the bad or good way, depending on our behavior.
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