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Reply #44: World on brink of one more recession, says UN [View All]

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xchrom Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Dec-05-11 09:17 AM
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44. World on brink of one more recession, says UN
http://timesofindia.indiatimes.com/business/internation...

United Nations: The United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down.

The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6% from 4% in 2010. It has called 2012 a "make-or-break " year for the global economy, which will face a "muddlethrough" scenario and continue to grow at a slow pace.

"Following two years of anaemic and uneven recovery from the global financial crisis, the world economy is teetering on the brink of another major downturn," the UN report said, warning that "the risks for a double-dip recession have heightened" .

The report said the failure of policymakers, especially those in Europe and the United States, to address the jobs crisis , prevent sovereign debt distress and escalation of financial sector fragility poses the most acute risk for the global economy in 2012-2013 .
Growth in developing countries like India and China, which had stoked the engine of the world economy so far, will also slow down to 5.6% in 2012 from 7.5% in 2010.
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