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The authors analyze the developments in the world economy during the second half of the 20th century & the first five years of the 21st century, Based on the statistical data published in the editions of international organizations -- primarily UN, IMF & WTO, they explain the causes of recession in the world economy at the beginning of this century after it achieved an impressive growth in the second half of the 20th century. The authors also point to the factors that contributed to the accelerated recovery of the world economy & world trade in 2004 & 2005. Tables, References. Adapted from the source document.