World Bank forecasts slowdown in global economic growth The
World Bank released its latest Global Economic Prospects report
Tuesday, forecasting slower economic growth the rest of this
year and next. The World Bank is projecting a deceleration of
gross domestic product (GDP) gains in the US, the euro zone, and
the developing economies of Asia and Latin America compared to
2010. The only region where it foresees faster growth is Sub-
Saharan Africa. While the World Bank attempts to put the best
possible spin on its forecast, suggesting that there will not be
a return to negative growth (a so-called “double dip” recession)
and predicting an eventual acceleration, the figures released by
the agency portend a growth of unemployment, poverty and social
deprivation across the planet. In the US, Europe and Japan –
where the so-called “recovery” has been characterized by anemic
growth following the collapse of 2008 and early 2009, sustained
high unemployment, and brutal attacks on the living standards of
the working c