One by one

One by one One by one, economies around the world are stumbling. By cutting interest rates again this week—for the seventh time this year---the Federal Reserve hopes it can keep America out of recession. But in an increasing number of economies, from Japan to Taiwan to Mexico and Brazil, GDP is already shrinking. Global industrial production fell at an annual rate of 6 percent in the first half of 2001. Early estimates suggest that gross world product, as a whole, may have contracted in the second quarter, for possibly the first time in two decades. Welcome to the first global recession of the 21st century. 世界各地的经济逐渐在缓慢的发展着。本周再次通过降低利率是今年的第七次--- 美联储希望它能够保持美国的经济不再衰退了。但是，在一个越来越多的经济体 从日本到台湾，墨西哥和巴西的国内生产总值已经缩小。在年上半年全球2001 工业生产下降了百分之六年增长率。初步估计明，世界生产总值，作为一个整 体，可能在第二季度收缩，也可能是二十年来第一次。欢迎来到全球经济衰退的 世纪。21