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: http://www.gulf-daily-news.com/Story.asp?Article=205151&Sn=BUSI&IssueID=30295