The World in Review

1. United States:

More than 2.6 million workers lost their jobs in 2008, the highest number since World War II ended in 1945. The U.S. Labor Department reported that, following the credit crisis in the last four months of the year, the number of the unemployed has continued to accelerate, with more than half a million reporting jobless status in December alone. (See related news brief: “Millions Out of Jobs – Millions More at Risk”)


“The U.S. trade deficit dropped to its lowest level in more than five years in November as the economic slowdown led to lower demand for imports” (BBC News).

The number of people filing for foreclosure in 2008 rose 81%, RealtyTrac reported. U.S. homeowners submitted nearly 3.16 million foreclosure filings, including default notices, auction sale notices and bank repossessions on more than 2.3 million U.S. properties during the past year. California, Nevada, Florida and Arizona led with the highest number of foreclosures. (See related article: “America’s Banking Crisis – A Financial Tsunami Approaching!”)

The National Center for Health Statistics reported that the number of obese Americans, 34%, now exceeds the 32.7% of those considered overweight. According to statistics, more than 72 million people—one third of U.S. adults—were obese in 2005-06. (See related news brief: “World More Obese Than Starving”)

2. Venezuela: National Assembly lawmakers approved President Hugo Chavez’s proposal to remove term limits on the presidency, allowing him the ability to seek re-election in 2012. The proposal is expected to be presented at a national referendum that could occur as early as next month. (See related article: “Venezuela’s Shift to the Left”)

3. United Kingdom:

Britain’s trade deficit continued to widen last October, with $12.09 billion more spent on imports than exports, according to the Office for National Statistics. (See news brief: “2009 Economy Forecast: A Bad Year for the UK”)


Standardized Greater Certificate of Secondary Education (GCSE) test results showed that “half of pupils leave secondary school without a basic qualification in science and seven in ten do not have at least a C-grade language” (Guardian).

4. Germany: Berlin proposed a $67 billion economic stimulus package, aimed at invigorating Germany the world’s fourth-largest economy.

5. Israel: An audio message said to be from Osama Bin Laden urged Muslims to launch a holy war against Israel for its attacks on Gaza. The message also accused Arab leaders of conspiring with Israel (BBC).

6. Somalia: In Mogadishu, the Somali capital, people celebrated the withdrawal of Ethiopian troops, which intervened in Somalia two years ago to drive out Islamist forces (BBC).

7. Russia: “Gazprom, Russia’s gas company, said its pumping stations began sending gas through Ukraine early yesterday, following a monitoring deal signed in Brussels on Monday. But hours later, Gazprom said Ukraine was blocking the flow of gas—adding that the U.S. [relationship with Ukraine] was to blame” (Guardian). (See related news brief: “Russia Stops Gas Flow—Europe in Crisis”)

8. India:

Indian software company Satyam has been damaged by corruption, deception and scandal, as the chairman and founder, Ramalinga Raju, was arrested earlier this week on charges including forgery and conspiracy. Mr. Raju confessed to falsifying the firm’s profits and cash reserves for several years. (See news brief: “Corruption Charges Hurt Indian Software Company”)

“The head of the Indian army says it has noted that Pakistan had moved some troops to its border with India in the wake of the Mumbai attacks. Delhi believes the Mumbai attacks that killed more than 170 people were planned and executed from Pakistani soil. Islamabad denies involvement” (BBC). (See related article: “India and Pakistan: An Uncertain Future”)

9. Japan:

“Company bankruptcies in Japan jumped 24.7% in December from a year earlier, as the financial crisis pummelled the world’s second-largest economy…A total of 33 publicly traded companies went out of business in 2008, the most in the post-war period,” according to data from research firm Tokyo Shoko (BBC).

“Japanese machinery orders fell by a record 16.2 percent in November, twice as much as economists estimated, as businesses cut spending amid a deepening global recession” (Bloomberg).