RTE Business - "World Bank fears US house crash" (12-13-06)

"The World Bank has warned that the global economy has reached a potentially dangerous 'turning point' with the US at risk of recession if the housing market crashes."

"In a report called Global Economic Prospects, the Bank also said globalisation was an unprecedented opportunity for developing nations, although income inequality and environmental damage could undermine its benefits."

"The twice-yearly report predicted growth in worldwide gross domestic product (GDP) of 3.2% in 2007, down from a projected 3.9% this year."