Downside risks to global growth have continued to increase in recent weeks in response to intensifying economic, banking, and fiscal problems in the Euro zone and the United States. The negative feedback loop associated with the plunge in consumer confidence on business activity and governments will have varying degrees of drag on both advanced and emerging economies through the more integrated trade and capital market linkages internationally. We have again trimmed our global growth forecast for this year and next to 3.8% and 4.3% respectively, about a percentage point below the 5.0% advance in 2010. The slowing pace of growth, particularly in the advanced nations, leaves the global economy increasingly vulnerable to any additional developments that could drag on activity…