How deep could this Double Dip be?

The global economy is not out of the woods yet. A precarious situation looms large over the fragile recovery that we see. Unwieldy government deficit, demanding tax regimes, circumspect consumer demand and a feeble job market could contrive to create the perfect storm – double dip recession. This is an economic jargon, which means an economic downturn that apparently ends with a period of economic growth, but in reality gives rise to another, possibly bigger, dip.

What will the consequences be for the global recovery in case a double- dip recession occurs?

How will countries like India and China react to this threat?

Is this term for real or just a figment of the economists’ imagination?

Think and think hard, and post your reply on this site in less than 250 words. The last date for entries is Sunday 1st August, 2010 till 23:59:59 PM. The best two entries as selected by the judges stand to win certificates.