With regards to the European debt crisis,my guess is,the International Monetary Fund and the European Union will muddle through,says World Bank President Robert Zoellick.The developed markets have obviously been stumbling along.China does seem to be slowing a little bit,but I think it's appropriate so as to avoid a bubble situation.
People are gonna be moving at different speeds with different issues.That's the nature of the new global market we are in.
Food prices are about 50% higher,but the risk is,the stocks for wheat and grain are very,very low,making them vulnerable to price shocks.The low income countries and big wheat importers in the Middle East are hurt the most.We've launched a pilot with JP Morgan Chase providing some additional credit support and access to commodities markets derivatives to insure some of these players.
The European Union is pretty slow,with its low population growth.As they muddle through,the question is whether they will make the necessary structural changes,Mr.Zoellick wonders.
The World Bank offers financial and technical assistance to developing countries worldwide.It provides resources,shares knowledge,builds capacity and forges partnerships in the public and private sectors.Founded in 1944,it has more than 10,000 workers in over 100 offices around the globe.
JP Morgan Chase(JPM)
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