global economy

AP - China's high-flying economy is starting to lose altitude. The big question is whether the world's economic superstar will shrink gradually — or so fast that it harms a fragile global economy.

AP - Fears about the global economy led to the biggest panic in financial markets since the 2008 financial crisis.

Prospects seemed brighter last year when the global economy rebounded after the financial crisis. But that growth has now stalled, in ways that indicate how the global economy is interwoven.

The powerhouses of the past could struggle for years to return to the prosperity they knew previously.

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Japanese officials are still assessing the damage from last week's earthquake, tsunami and what appear to be partial meltdowns at some nuclear plants.

The cost will be in excess of $100 billion. The Japanese economy is likely to shrink, at least temporarily, as a result of the lost production.

Whether the global economy will be severely hurt is less clear.

The goal of this week's two-day summit in Seoul, South Korea, is to create a joint plan to rebalance the global economy.

But tensions are building over currency manipulation and trade, and the U.S. Federal Reserve’s decision to flood the economy with more money through quantitative easing hasn't helped.

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