Reuters
Morgan Stanley has slashed its global growth forecast for 2011 and 2012, saying the US and the euro zone were "dangerously close to a recession".......
The bank also attacked policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.......
"Our revised forecasts show the US and the euro area hovering dangerously close to a recession - defined as two consecutive quarters of contraction - over the next 6-12 months,".......
If the West does slump back into recession, or a prolonged period of meager growth, analysts say China may not be in a position to reprise its role in supporting the global economy as it did in 2008, when it announced a massive stimulus program.
The bank also attacked policymakers in Washington and Europe for not acting more decisively to contain the sovereign debt crisis.......
"Our revised forecasts show the US and the euro area hovering dangerously close to a recession - defined as two consecutive quarters of contraction - over the next 6-12 months,".......
If the West does slump back into recession, or a prolonged period of meager growth, analysts say China may not be in a position to reprise its role in supporting the global economy as it did in 2008, when it announced a massive stimulus program.
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