After solid performance across most of the world economy early this year, global growth slowed significantly in the spring and yet shows little sign of accelerating. Even with some anticipated pick-up later this year, real GDP growth for the world economy will probably come in a little below 4 percent this year after 5 percent growth in 2010. The key question now is whether growth of around 4 percent may still reasonably be expected for 2012 or whether a more significant and sustained slowdown is more likely?[...]