UN: US recession could cause global slowdown

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UN: US recession could cause global slowdown
David Edwards and Muriel Kane
Published: Thursday January 10, 2008


The United Nations has warned that economic problems in the United States could trigger a global recession.

According to an analysis released by the UN's Department of Economic and Social Affairs, "There is a clear and present danger of the world economy coming to a near standstill. ... 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."

Chief UN economist Rob Vos told Bloomberg News that in those circumstances the world economy might not expand at all in 2009.