Recession in America? 10 questions assessing the threat.

Concerns about weak economies in Europe have already rattled global financial markets, and things are hardly rosy at home. Is America heading into a recession? Here are answers to 10 questions about that risk.

Aside from Europe, is the rest of the world economy OK?

It's not collapsing, but it's not steaming along with great vigor either.

China's economy is slowing as it tries to transition from a reliance on exports to growth fueled more by domestic consumers. And it's not just China: The manufacturing sector is decelerating worldwide and is in outright contraction in nations such as Britain, Australia, and Brazil. To some extent, that's just a reflection of weakness in Europe.

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