Can the global economy slip into a doubledip recession?
A majority believes that a double-dip recession is unlikely. And that also
seems to be the dominant view across the globe even though the economic recovery
remains fragile.
Crucially, retail sales in major economies are rebounding. This has helped ease fears of a double-dip. But high jobless rates in the developed world remain a big challenge for policymakers. At last count, there were some 50 million unemployed people in OECD countries. While emerging economies such as India are better-placed because of their robust domestic consumption, they are feeling the pressure of sluggish exports. So, expect the global recovery to be a longdrawn-out process.
