“There is a clear and present danger of the world economy coming to a near standstill,” the UN’s Department of Economic and Social Affairs said in an analysis released today in New York. “The domino effect of a U.S. recession would be to knock down export growth from China, Europe and Japan, in turn reducing their demand for exports from developing countries.”
» UN Says U.S. Economy’s Housing Slowdown Risks Global Recession – Bloomberg, 9th January 2008.