How Close Are We to a Double-Dip and Deflation?

"According to the IMF, global growth will be 4.3% in 2011. That sounds good, and it is, because historically that number has been between 4 to 4.5%. But looking underneath those numbers there are problems. Almost all of that growth is coming from emerging market nations. China will grow 7.4%, and the advanced nations will grow only 2.2%. So there is a tremendous dichotomy. Clearly, the center of economic gravity is shifting from advanced economies to Asia. This shift has helped to create imbalances, and those need to be dealt with in the medium-term...."