UN warns of two dip in western economy

According to Kyodo News January 18, the United Nations released the 2011 world Economic Situation and Outlook report, the global economy this year, the real growth rate is expected to be 3.1%, lower than last year's 3.6% (calculated value), economic growth will be slowed. The United Nations warns that currency devaluation competition could lead to market turmoil and a slowdown in the job market, noting that if appropriate measures are not taken, the economies of Japan, the US and Europe may dip into the bottom two times this year. Japan's economic growth this year is expected to be 1.1% and next year will be only 1.4%.　　The U.S. economy is expected to grow 2.2% this year and Europe at 1.3%. The report notes that a new round of US monetary easing has led to a weaker dollar and a rush of hot money into emerging markets, allowing governments to intervene in markets and limit capital inflows.