HSBC downgraded its global growth forecast on Friday, citing risks to emerging markets from the slowdown in China and the prospect of a scaling back of the Federal Reserve's bond purchasing program. "The Fed might be thinking of monetary tapering but, for us, the only tapering is of our growth forecasts," warned Stephen King, HSBC's chief economist, and Madhur Jha, HSBC's global economist, in their third quarter global outlook. HSBC cut its forecast for world growth to 2.0 percent in 2013, down from an earlier prediction of 2.2 percent. It also downgraded its 2014 outlook to 2.6 percent. In a blow to those hopeful that emerging markets can propel global economic growth and boost anemic...
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