Only concrete, coordinated action by governments around the world can stop the slide, according to the head of the Washington-based Institute for International Economics, Fred Bergsten.
The quick, unprecedented and coordinated action taken by Asia Pacific nations and others has averted economic catastrophe, and helped us to begin to emerge from the worst recession in generations.
On using attrack strategy of the frequent support by coordinated action in basketball competition;
During the same period, UN efforts in Afghanistan facilitated the establishment of an interim government and coordinated action by the UN system to rebuild that war-torn country.
The summit's emphasis clearly was on coordinated action.
The attempt by major central banks to ease strains on Europe's credit markets certainly cheered financial markets on Wednesday, but what does the coordinated action actually do?
But there was no coordinated action plan for tackling the current credit crisis.
In London, British Prime Minister Gordon Brown says he wants to see coordinated action on the stimulus front when world leaders gather later this week in Washington to talk economics.
The summit's emphasis clearly was on coordinated action. G-20 leaders said they will maintain their current stimulus plans and expansionary policies as long as needed.
To this end, the proposed corporate brand coordinated actions.
Speaking at a gathering of international policymakers in the United States, Mrs Lagarde called for coordinated action with long-term plans to bring debt under control.
Central bank discussions of such coordinated action could probably not remain entirely secret. Rumours could help stabilise markets, however.
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