Wednesday, January 9, 2008

Global slump!

MANAMA: There is a clear and present danger of the world economy coming to a near standstill this year, warns the United Nations...
The major uncertainty for this year now emanates from the US economy.
The pessimistic scenario triggered by a much deeper crisis in the US housing and mortgage markets and a hard landing of the dollar would project an outright recession in the US and a deceleration of world economic growth to 1.6 per cent this year, says the report

Full report:

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