In other emerging markets, the new, crowd-pleasing IMF has advocated counter-cyclical policies to combat the ill effects of global contraction.

在其他新生市场，群众拥戴的IMF提倡实现反周期政策应对全球经济紧缩带来的负面影响。

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IATA says air carriers in both India and China had reported heavy financial losses, because of the global economic downturn and contraction of global export markets.

国际航空运输协会表示，因为全球经济低迷和全球出口市场紧缩，印度和中国的航空公司都报告说亏损严重。

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The World Bank's latest estimate of global economic growth in 2009, released today, forecasts a contraction of 1.7 percent compared to economic growth last year of 1.9 percent.

根据世界银行今天公布的最新全球经济增长预测，2009年全球经济将会收缩1.7%，而去年全球经济增长了1.9%。

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Exports plummeted amid global contraction and a rising yen, and the ripple effects affected domestic demand as well.

FORBES: Macro News is Bad, But Japanese Companies are Getting Stronger

Although the surge in bank lending may temporarily cushion the impact of the global contraction on China's economy and employment, it will almost certainly lead to another surge in nonperforming loans.

WSJ: China's Consumption Conundrum

The global contraction in demand is now forcing the Kazakh government, which has long been criticised for its over-reliance on oil and other commodities, to seek ways of diversifying its economy.

BBC: Turbulence for the Kazakh economy