IMF's Lagarde says world risks 'lost decade'

The head of the International Monetary Fund warned Wednesday the global economy faces the risk of a "lost decade" of little or no growth and Asia should be on guard to deal with a downturn.

Without bold, coordinated action, the world might face worsening financial instability and a possible collapse of demand, said Christine Lagarde, on her first visit to Beijing since becoming IMF managing director in July. (AP)