European Briefings on Globalisation, North-South Relations and International Ecology

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2008 The Risk of a Global Economic Recession

Article no: EN20080115-Article-1.1-2007

2008 The Risk of a Global Economic Recession

?The world economy faces serious challenges in sustaining the strong economic growth of the last few years, the UN says in its report World Economic Situation and Prospects 2008 (see reference). The baseline forecast of the United Nations for world economic growth is to moderate to 3.4% this year, following the trend line down from 3.9% in 2006 and 3.7% in 2007. But there is a clear and present danger of the world economy coming to a near standstill. WDEV summarizes the report

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