WDEV Dossier: Global Crisis and the South

The risk of a global economic recession

The world economy faces serious challenges in sustaining the strong economic growth of the past. According to a United Nations report, World Economic Situation and Prospects 2008 there is a clear and present danger of the world economy coming to a near standstill. And recent optimism that the corner was being turned on poverty thanks to faster growth in emerging markets and even some very poor economies is turning to anxiety, as the global economy downshifts, prices spike and weaknesses in formal-sector employment are exposed.
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