Life never turns out the way we expect. This year in particular has ended up worse than I thought it would _ personally, socially and globally. Personally, I did not achieve many of the goals I set out earlier. Socially, I did not get to spend enough quality time with friends or family. Globally, the world is also ending the year on a disappointing note, with lower-than-expected growth and a painfully slow recovery.
With 2012 drawing to a close and 2013 about to begin, it is time to evaluate what has happened and what the outlook is for next year.
Admittedly, the global recovery has fallen short of expectations. Many international organisations have revised down this year's global outlook. The International Monetary Fund (IMF), for example, has lowered its world growth projection from 3.5% to 3.3%. The Asian Development Bank has also cut its 2012 growth forecast for developing Asia to 6%.
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