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World Bank Chief: 'We're One Shock Away From Full Blown Crisis'
As the world's top finance officials focused on policing global imbalances and financial supervision, the World Bank Saturday raised the alarm on rising food prices, warning that many millions more could be pushed into poverty if prices rise further. "We are one shock away from a full blown crisis," World Bank President Robert Zoellick said of the rising food and fuel prices and the impact on the least developed economies, warning of the vulnerability of these countries to weather or other events. The financial crisis has shown that "prevention is better than cure. We cannot afford to forget that lesson," ... (full story)
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