World Bank Report Saw Strong Growth In Developing Countries in 2004

World Bank News Release:

"A new report says global economic growth reached 3.8 percent in 2004, with developing countries recording their fastest growth in more than a decade.

"The World Bank's annual Global Development Finance 2005 report says much of the momentum came from more rapid growth in the United States and China, along with a pickup in Latin America and Japan and a modest recovery in the European Union.
However the report says the global growth momentum has peaked. It warns developing countries may need to make adjustments because of the risks posed by ballooning global imbalances -- particularly the United States current account deficit."