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Economic Downturn Hits Hard Around The World

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Economic Downturn Hits Hard Around The World

Economic Downturn Hits Hard Around The World

Economic Downturn Hits Hard Around The World

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  • <iframe src="https://www.npr.org/player/embed/102384323/102384602" width="100%" height="290" frameborder="0" scrolling="no" title="NPR embedded audio player">
  • Transcript

A homeless man in Osaka, Japan walks the streets. Beyond official tabulations of the homeless, there are thousands more under-employed and daylaborers who are struggling to survive in Japan. Richard A. Brooks/AFP/Getty Images hide caption

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Richard A. Brooks/AFP/Getty Images

A homeless man in Osaka, Japan walks the streets. Beyond official tabulations of the homeless, there are thousands more under-employed and daylaborers who are struggling to survive in Japan.

Richard A. Brooks/AFP/Getty Images

Click on "A World of Trouble" to understand the global sweep and impact of this economic crisis. Courtesy GlobalPost.com hide caption

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Courtesy GlobalPost.com

In Ireland, Spain and South Africa, real estate prices are down. The collapse of U.S. automakers has affected plants in Canada, Mexico and Germany.

Another sign of how serious the global recession has gotten? The International Monetary Fund predicted in March that this is the first time in 60 years that the worldwide economy will contract. And the IMF doesn't see a recovery until 2010.

To our international listeners, please tell us: How has the recession changed how you live? What changes have you, your family, your friends and your colleagues made changes in your daily life because of the downturn?

Guests:

Thomas Mucha, managing editor in charge of correspondents for GlobalPost

Janice Roberts, finance reporter for the South African Press Association

Walter Molano, managing partner and head of research at BCP Securities