However, the reality today is that the world is plagued with protectionist tendencies and the global economic recession has added to our woes.
In the middle of the 2009 global economic recession, Africa was the only region apart from Asia that grew positively, at about 2%.
Following the global economic recession in 2008, European countries have been grappling with weakness in industrial and construction activities, which are major steel demand drivers.
The Royal Swedish Academy of Sciences is worried that oil supplies are peaking, shortly to dwindle, and that high oil prices could cause global economic recession.
Furthermore, with the threat of a deep global economic recession looming, the UNWTO doesn't expect the travel and tourism industry to recover until later next year.
The BlackBerry is still arguably the top dog, but the sniper hit from Apple and the global economic recession have taken quite a toll on RIMM shares.
The firm suffered significant losses during the global economic recession that followed, starting with the costly divestiture deal with the Citadel Investment Group in late 2007 to offload its subprime portfolio.
Written by a team of independent experts who are each covering the country or region from which they hail, the UNESCO Science Report 2010 analyses the trends and developments that have shaped scientific research, innovation and higher education over the past five years, including the impact of the current global economic recession.
The welfare reforms come at a time when many workers in Britain are feeling the squeeze of a global economic downturn and recession-hit Europe.
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Even as the planet has faced an unprecedented global economic crisis and recession, India weathered the worldwide trend and remained the second fastest growing major economy in the world after China - at a time when most countries suffered negative growth rates in at least one quarter in the last four years.
They include the economic meltdown of 2008, the global recession, and the persistent economic problems that plague countries and societies around the world today.
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Swan was named by banking magazine Euromoney as the world's finance minister of the year for 2011 for helping steer Australia clear of recession during the global economic meltdown.
Poland is one of the most improved nations over the past couple of years and, not coincidentally, was the only European nation not to slip into recession during the global economic crisis.
Noda is Japan's sixth prime minister in five years, a reflection of political volatility amid an economic slowdown worsened by the global recession.
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Are we entering a period of global recession or is it just an economic slowdown?
The Organization for Economic Cooperation and Development also offered some positive economic commentary, saying that the global recession is close to bottoming out.
Earlier in the day the Organization for Economic Cooperation and Development said the global recession is nearing a bottom, but warned that the recovery will be weak unless governments do more to remove uncertainty from bank balance sheets.
The 2008-09 global financial crisis and recession exposed Sri Lanka's economic vulnerabilities and nearly caused a balance of payments crisis.
Having largely weathered the global recession, Latin America continues to demonstrate its economic and social potential to become a vibrant, prosperous and equitable society.
Economic forecaster David Levy pegs the chances of a new global recession starting within a year or so at around 60%.
This year, as global economies again slow significantly, central banks outside of the U.S. again seem content, or at least resigned, to letting the business and economic cycle play out, even though it likely means a global recession.
Since the national economic downturn, various global economic scares, and the United States still struggling out of the Great Recession, thought provocation has turned toward how to do more with what we have and building new economic models.
The global economic recovery appears to be firmly in place and concerns of a double-dip recession, deflation, and other bogeymen have faded.
Mrs Hart said: "These statistics are clearly disappointing and show people and businesses across Wales are continuing to face real challenges as a result of the double-dip recession in the UK economy, made worse by the difficult and uncertain global economic climate, " she said.
What makes the sale all that more impressive is the context: stubbornly high unemployment in the U.S., recession in Europe, and a slowdown in China, which had been the global powerhouse in economic growth over the past several years.
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