Breakthrough Economic Year Predicted by World Bank

The World Bank predicts that in 2014 the global economy will finally emerge from the doldrums, with richer countries leading the way. Their resurgence, after years of either near-disaster or low-level stagnation, will correspond with a retreat on bond-buying by the U.S. Federal Reserve and a raising of interest rates. That could spell trouble for some developing countries, but according to the report, that problem will be more than offset by increased demand from the richer countries as the recovery gains a foothold. The prediction is for global gross domestic product to expand 3.2 percent this year, up from 2.4 percent in 2013.