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World Bank Chief Says 2nd Recession Unlikely


World Bank President Robert Zoellick addresses an audience in Singapore, September 6, 2011.

World Bank President Robert Zoellick addresses an audience in Singapore, September 6, 2011.

World Bank President Robert Zoellick says he believes the world will avoid sliding into a second recession.

Zoellick made the remark Tuesday to reporters in Singapore, where he is attending an economic conference amid plummeting world stock prices and worries over a slowdown in U.S. economic growth.

Zoellick said he believes the United States and the world will avoid a "double-dip" recession, but he admitted that growth is likely to remain slow and prospects are uncertain. In an interview with Bloomberg Television, Zoellick said the world is moving into a "dangerous period."

In an address to the conference, Zoellick said the United States could reassure markets with steps to slow the increase in its debt, rather than deep cuts in spending.

He also said Asia's expanding economies can help by investing more in other developing countries.

Some information for this report was provided by AP, AFP and Reuters.

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