According to this article published in the Sunday, July 15, 2001 edition of the Observer of London. We're hurtling into a recession.
The authors premise is that the current economic system was set up to send wealth to the US, and that up to now the US would bail out countries whose economies were collapsing in order to protect the system. However, for assorted reason, the author believes that too many parts are going wrong with the economy at once and world leaders aren't prepared to respond to the coming crisis.
I'm not sure how much I believe it, but I do remember the key point of "Beyond the Limits". Exponential growth is unsustainable. You will always exceed your limits if you continue with exponential growth.
And both populations and economies show exponentially growing behavior.
So the article reminded me of the question "What's going to break first?"
The economy, the environment, or overpopulation?
The nicest thing about the economy collapsing first, is I think it'll hurt the US the most. And as the current world political and economic system was largely engineered for benefit of the US, there's something that seems more fair that the US suffer the consequences of its actions, instead of what would happen with an environmental collapse where the poorest countries would suffer first.