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Economy faces greatest risks for decades

By Edmund Conway, Economics Editor

Last Updated: 7:05pm GMT 09/01/2008

The world is facing the most potent cocktail of economic and political risks for a decade in the wake of the credit crisis, an authoritative report has warned.

A potential recession in the US and the knock-on effects of a collapse in asset prices, such as housing and shares, could throw the world economy into chaos, says a study from the World Economic Forum.