We expect 2012 to be a year of improvement for the global economy.
The Chinese engine will start pulling again and global economy is expected to improve over the coming year as Chinese growth picks up.
The US economy's moderate recovery should continue.
The euro recession is likely to be short, but growth prospects remain weak.
The euro debt crisis will continue. We expect a continued muddle-through scenario with high volatility but no break-up.
Read the Global Scenarios publication here (PDF)