The loss of global economic momentum spells trouble for the second half of 2011.

In his April Economic Outlook, American Enterprise Institute (AEI) economist John Makin assesses the risks the world faces as a result of China’s slowing economy. With the coming transition in Chinese leadership, it is unlikely that the world's second largest economy will alter its policies to stimulate growth. As a result, the whole world may feel China's pain.

Growth is slowing, but the politicians at fault haven't heeded calls for serious reform.

Two useful reminders: growth does not simply continue uninterrupted along a smooth upward path, and inflation will not always remain quiescent.

Economic data suggest a pause or a stalling of the U.S. economic recovery, which has been disappointingly weak to date, and economic policymakers should heed the warnings of a slowdown.

China's new leadership is threatening to stay content with slower economic growth, and the country's manufacturing, housing, and export sectors are experiencing problems. Nonetheless, China has an opportunity to influence economic growth in 2012 through stimulus measures to its own economy.

As an economic slowdown looms, will Irelandstick with the model that made it the envy of Western Europe?

Financial markets around the world experienced tumultuous swings following Standard & Poor's first-ever downgrade of the U.S. credit rating on Aug. 5. An ongoing European debt crisis and forecasts for sluggish economic growth worldwide are also rattling investors.