The world economy is in secession the deepest the most wide.Spread since the 1930s.There are glimmers of recovery in the industrial countries but most serious economic analysis anticipate that rates of growth and levels of economic activity for the rest of the 1980s will remain well below those of the 1960s.As the 1983 world economic survey put it recovery is plagued with uncertainties and the outlook for most developing countries is bleak.