Citigroup Sees 55% Risk of a Global Recession Made in China

``Unlike the U.S.-driven international slumps of the past two decades, this one will be generated by sliding demand from emerging markets, especially China, which has surged in size to become the world's No. 2 economy... Among reasons for worry is his view that in reality China is already growing closer to 4 percent than the government's goal of about 7 percent targeted for this year. A shallow recession would likely occur if expansion slowed to 2.5 percent in the middle of next year and stayed there, he said.''