| Launching its flagship "Global Economic Prospects" report, the World Bank has warned that 2016 could be the year of a "perfect storm" for the world economy. In particular, it held out concerns that a simultaneous slowdown in the five big emerging-markets economies - Brazil, Russia, India, China and South Africa, or the Brics countries - was likely, and could be intensified by a new round of stress in the financial markets.
The World Bank predicts that China will see relatively modest growth, and that recessions in Russia and Brazil will continue. Only India will continue to expand at a robust pace. "If, in 2016, Brics growth slows further, by as much as the average growth disappointment over 2010-14, then growth in other emerging markets could fall short of expectations by about one percentage point, and global growth by 0.7 percentage point," warned the Bank...............................................Full Article: Source
|