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.

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.

The Chinese overlooked the possibility that the Olympics would arrive at the same time as its economy braked to a stop.

China is heading for a hard landing in 2012 or 2013 for three reasons: Excess capacity tied to overstimulation of investment in export industries and weak domestic demand growth, a bursting speculative bubble in its real estate sector, and a sharp slowdown in global growth.

How will the Fed's Open Market Committee respond to persistent inflation in 2007?

Will the U.S.-India relationship live up to its potential as a solid partnership between the world’s oldest and largest democracies, and have potentially transformative consequences for Asia and the world?

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