World Depression by Third World Default?: The need to link debt guarantees to tri-cycling

debt: major default risks for dc banks, shortage of cash for the lowest-income developing countries (LICs), and uncertainty and high cost of credit for middleincome developing countries (MICs), all require attention; recycling: if OPEC surpluses are not placed in Ides to permit extra imports from des (tn-cycling) Ides will cut their purchases of such imports, and will be driven towards costly borrowing, reduced growth, or IMF loans conditional on domestic deflation; then world demand and incomes would fall.