Global economy to shrink in 2009, World Bank says 'Emergency' seen in developing world, with no growth outside China, India

The global economy is expected to contract in 2009 for the first time since World War II and the recovery next year is likely to be very fragile, the World Bank said Tuesday in its latest economic outlook.

The global economy is expected to shrink by 1.7% in 2009 and grow 2.3% in 2010 after 1.9% growth in 2008

China's growth is expected to slow to 6.5%, and India's to 4%.