Fear of Double-Dip Pushes Economics Up The Risk Leader Board.

Almost three years after the most extreme global economic turmoil in recent memory the mainstream consensus is again leaning toward another period of negative GDP figures across the globe.

Bank Of England governor Sir Mervin King warned of tough times ahead as the Bank cut growth forecasts. This follows rumours that France and Britain are Europe's most likely candidates to follow the USA in being stripped of a triple-A credit rating.

Even Australia's so-called Teflon economy has seen it's Reserve Bank downgrade its 2010-11 growth forecast by 0.75 percentage points and its forecast for 2011-12 by 0.5 percentage points.

Chief economist for ASEAN and India, Leif Eskesen from HSBC sees more downside risk for the global economy stating, "We see more downside risk to the global economic outlook over the next few months. The S&P downgrade is not the alone cause for the downside risk. We have seen global economic data weakening over the past few months."

The Global Economic Forum has set up the Risk Response Network to look at new ways of tackling these issues in government and business. Watch the film here.