Tuesday, March 10, 2009

Shrinking Global Economy \ Stem-cell Field’s US Leadership

The global economy is likely to shrink for the first time since World War II and trade will decline by the most in 80 years, the World Bank said on March 8. Its assessment is more pessimistic than an International Monetary Fund report in January predicting 0.5 percent global growth this year.

Stem-cell companies surged after President Barack Obama lifted restrictions on federal funding for embryonic research and called on Congress to provide more money to make the U.S. a leader in the field. Excerpts, Bloomberg, New York

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