Most people seem to agree the world is entering a slow down phase

Many co's are givng advance notice their revenue and profits may be less. The question then becomes is this a temporary phase in the business cycle

I would think the slow down is going to be a general world wide slow down with a  some what permanent slow down in business growth.

Given the general shift to a more elderly population in generally wealthy countries [those with the money to actually pay for goods and services] the population has passed the stage where more people than last yr or the yr before,  are acquiring big ticket purchases

For most people the consumer expansion phase of their life is over or almost over.

Even smaller items are bought with less abandon, as older people seek to pay down debt in anticipation of retirement. If you have parents or siblings, what do you buy for an Xmas gift. These people have everything they want, within reason. A McMansion may be more than most people could afford, or want, so that market is limited.

In fact GM is but one example of an ability to produce more than the market can absorb, thus production is reduced.

 Who can show me a market that is growing. Apple can't sell ever more iphones, we all have more than one TV and generally enough vechicles. 

India and Eurasia is one place that consumption could expand greatly, but how do they pay for increased consumption. I see no gov't policy, or ground swell of buyers  that would generate greater consumption. In fact what I do see is cheaper   Eurasia labour producing goods the world does not want or need, in ever increasing amounts.

3rd world countries could be a source of booming economic growth. But until the various gov't and rebels get over their lust for blood, nothing of any economic outcome will happen

Unless somebody knows or thinks growth will happen some place, I think we might as well accept the world economy will not grow, but in fact will become smaller