WDEV trial: Get one week free access to all articles!


	Our new website address: www.wdev.eu

Home Mission Statement Subscriptions Sample Copies Services Blogs Background Links Archives

Monitoring G8 Europe Global The New South UN Reform Global Finance Doha Final

Prognosis 2012: On the brink of a global recession

Gloomy world economic prospects

Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year, as is revealed in a pre-release of the new World Economic Situation and Prospects 2012 (WESP) report, Rainer Falk reports.

At best, the global economy will ‘muddle through’ with the growth of world gross product (WGP) reaching 2.6% in the baseline outlook for 2012 and 3.2% for 2013, down from 4.0% in 2010. This forecast is conditioned, however, on containment of the euro-zone debt crisis and a halt to further moves toward stringent fiscal austerity in the developed countries ...

Find in this article:

	Slower growth in the North is also affecting developing countries
	Slowdown from the US to India
	A 64 million jobs deficit
	Fiscal austerity is part of the problem
	More vigorous, concerted policy responses needed

To read this article you have the options:

>>> As a subscriber log in directly >>> here.
>>> If you have no subscription >>> pick your option.

More on this topic:

>>> EuroMemo: European integration at the crossroads
>>> The global social crisis
>>> Persistant incertainties in the global economy

* SUBSCRIBE to World Economy & Development in brief >>> here.

New step to regional integration in Latin America / The Development Friends Declaration

Top of page

Imprint

General Terms and Conditions

RSS Feeds

Site Map

WDEV Recent Issues

Issue 6/Nov-Dec 2011
G20: Wrong forum for development + German aid under Niebel + London contra FTT + Food speculation: How it works
Issue 5/Sep-Oct 2011
The global social crisis +++ Thanks to Germany it's 2008 all over again +++ Nepal: Second chance for Maoists
Issue 4/Jul-Aug 2011
Non-FDI modes of international production + Bail-out 2.0 for Greece + Europe: Tobin tax on the move
Issue 3/May-Jun 2011
Survey on trade union rights violation + BRICS on the new IMF director + Greece and the euro + Green Economy for LDCs?
Issue 2/Mar-Apr 2011
LDC-IV in Istanbul +++ Reforming the global monetary system: Whick role for the IMF +++ Escalation of food prices +++ Remittances and development
www.wdev.eu

WDEV Highlights

Thinking development against the mainstream
Marking the 30th anniversary of one of the world's more influential economic annuals experts pointed out that themes long sounded in UNCTAD's Trade and Development Report retain current prominence - particularly those citing the questionable wisdom of unbridled free markets.
NGOs urge open selection of World Bank President
In an open letter a global coalition of development activists and non-governmental organisations (NGOs) is calling on the World Bank's governors to ensure that the next president is chosen in an "open and merit-based process" that will give borrowing countries a major say in the selection.
Myanmar - a new darling of the West
After decades of isolation - imposed by major OECD countries out of concern for the country's human rights violations - Myanmar is emerging as a new darling of the "West" - judging by the accelerating succession of visits by senior officials and gurus. New groups of investors are waiting to enter the country as soon as possible.
Prognosis 2012: On the brink of a global recession
Persistent high unemployment, the euro area debt crisis and premature fiscal austerity have already slowed global growth and factor into the possibility of a new recession. Now the United Nations have downgraded significantly its forecasts for the world economy in the next year.
Back to the IMF? Hungary under siege by creditors
Eastern European states are in for a new round of the crisis. The external control of the banking sector and high reliance on external credit has landed the countries of Eastern Europe in a vulnerable position. Now, credit flows from Western banks are drying up again. Hungary has been the first country in the region to ask for IMF support again.