On Friday, the world continued to suffer from the ongoing financial crisis. Britain announced its first economic contraction in 16 years, leaving it on the brink of recession. The Japanese stock market plunged to a five-year low, with Korea and Hong Kong following suit.
Marcus Mabry, international business editor at The New York Times, speaks with Martin Savidge about deep-seated fears of a global recession and potential ways to regain confidence. He says that central banks may join in a coordinated effort to relieve the credit crunch in emerging markets over the coming weekend.