UNITED NATIONS: United Nations has warned that the world is on the brink of another recession, projecting that global economic growth will slow down further in 2012 and even emerging powerhouses like India and China, which led the recovery last time, will get bogged down.
The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6% from 4% in 2010. It has called 2012 a "make-or-break" year for the global economy, which will face a "muddlethrough" scenario and continue to grow at a slow pace.
"Following two years of anemic and uneven recovery from the global financial crisis, the world economy is teetering on the brink of another major downturn," the UN report said, warning that "the risks for a double-dip recession have heightened".
The UN 'World Economic Situation and Prospects 2012' report has cut the global growth forecast for next year to 2.6% from 4% in 2010. It has called 2012 a "make-or-break" year for the global economy, which will face a "muddlethrough" scenario and continue to grow at a slow pace.
"Following two years of anemic and uneven recovery from the global financial crisis, the world economy is teetering on the brink of another major downturn," the UN report said, warning that "the risks for a double-dip recession have heightened".