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Even without U.S. "cliff," world economy teeters
The global economy is on edge - and that's without the U.S. "fiscal cliff." Among rich nations, the U.S. outlook remains the least troublesome. But given a recession in the euro zone and a recent contraction in Japan, that's not saying a lot. At the same time, many emerging markets are hurting. India is likely to log its weakest growth in a decade this year and Brazil's economy is also sputtering. Luckily, growth in China appears to be firming. In the United States, the economy faces growing challenges even without the ongoing political wrangling over the $600 billion in government spending reductions and expiring ... (full story)