Is the world economy itself slipping into a recession..?
Blomberg reports that the The International Monetary Fund has cut its forecast for global growth this year and said there's a 25 percent chance of a world recession, citing the worst financial crisis in the U.S. since the Great Depression. The world economy will expand 3.7 percent in 2008, the slowest pace since 2002, The IMF gave a 25 percent chance that global growth will drop to 3 percent or less in 2008 and 2009, a pace the fund described as equivalent to a world recession. The last time that happened was in 2001.
The world's biggest economy projected to expand 0.6 percent in 2009
Japan's economy, the world's second largest, will grow 1.4 percent in 2008
China will grow 9.3 percent this year, slower than the 10 percent projection made in January
It's time to start giving a thought to a global recession scenario, how to best manage it and the opportunities it throws up.....instead of debating weather US is recession or not.