In a world witnessing

[aous02]

In a world witnessing increasing events of contemporary political conflicts the need for translation of legal,political, and diplomatic texts has become all the more pressing.

Is the underlined chunk grammatically correct? Any better construction?
thx,

[PROESL]

In a world witnessing increasing events of contemporary political conflicts the need for translation of legal,political, and diplomatic texts has become all the more pressing.

Is the underlined chunk grammatically correct? Any better construction?
thx,

Yes, it is correct.

I think this is a typical use of "world" and "witness" in writing that has to do with history or world history.

The world has witnessed ...

During the twentieth century the world witnessed...

The world continues to witness... in this century... even though...