The world economy was already slowing down when the terrorists struck on 11 Sept.
The attacks damaged trade and confidence around the world, and financial markets fell heavily. But despite the gloomy predictions, the US and much of the world rebounded remarkably quickly after a series of interest rate cuts by the world’s central banks. Developing countries were harder hit, especially in Latin America and Africa.
However, the strength of the recovery remains uncertain after recent US corporate scandals, which led to further stock market falls around the world. The blow to consumer confidence and spending could be more severe than that caused by the terrorist attacks.
BBC economics correspondent Andrew Walker explains how the world economy trembled, then recovered after the terrorist attacks.
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