Is the world economy heading for a recession?

The crisis in the financial system in USA is most likely to affect the growth of world economy to a moderate scale.However, the growth of Indian economy largely being contingent up on agriculture and agro based enterprises and the demand for consumer products and other commodities being mostly driven by more on domestic consumption and saving, and having limited external linkage is likely to be less affected. Besides,Indian economy is highly robust and self-sustaining with a well balanced financial management system.RBI has been taking necessary monetary and regulatory measures to curb inflation and to maintain a desirable level of liquidity in the system;any economic slow down may be a short term phenomenon. Indian economy and GDP is poised to grow at a 8-10% per annum,calling for increased infrastructural investment and growth,resulting higher demand for commodities and sevices.However,adverse change in exchange rate dynamics and crude oil price may exert a great deal pressure. thanks.

I have an overwhelming feeling (perhaps tuition) that not only are we already in a recession the government has yet to admit but are headed for an impending depression and I think we should prepare. That's my personal opinion but when the local paper has 25 jobs available for a town of 400,000 people, the cost of food continually rises, the homeless rate soars,the price of oil on the rise, the lack of resources, the food crises,enormous amounts of foreclosures, the unemployment rate is through the roof, and social services streched beyond their means; it kinda looks like a depression on the way to me. I wasn't born in the era of the great depression so I don't really know, it's just a feeling I have.

The world economy? Well, see, every country will be affected differently...depending how bad things get here in the U.S., I'm praying for things to only be a deep recession, not an actual Depression here...but the odds are looking at a Depression sometime here soon. Britain will be affected pretty hard. Russia CLAIMS they'll do OK. China may be the only one who GROWS and becomes more prosperous on this news, which may actually be something of good news for the rest of the world because China is one of the biggest distributors of cheap goods that the world has. I think places like India and the Philippines will probably see a recession, the Philippines specifically will probably see a deep one. Spain has already kinda crashed, and it's struggling. France could go into a recession. Canada probably will. Mexico...I don't know. The Middle East probably won't much care unless no one's buying oil, which'll only happen if no one can afford it... Places like Ethiopia, Kenya...I fear the worst for them, since likely if the developed, and developing parts of the world are barely able to manage themselves, then aide will falter and that's desperately needed stuff. But not everyone will do horribly. Self-reliant and small countries, so long as they stay off the radar of struggling countries, specifically neighboring ones...will probably continue on like normal. So my analysis is that the WORLD economy will become fractured. With pockets doing well, some becoming chaotic, and others simply struggling. Fractured might be a blessing, considering. It'll simply mean a re-ordering of the our world. Some countries will be on top, once the dust finally settles, and others may unexpectedly find themselves at the bottom. We'll all just have to see, I guess.

Hi friend! As far as India is concerned,the credit problem dont have any long term effect.As we are not directly influenced by the financials in the US.

Of course! But Henry Paulson and Bush are still not commit!