Huge questions remain unanswered regarding the outlook for the global economy. What's next for Europe's debt crisis? Is China headed for a hard landing? Will the Federal Reserve unleash QE3 to stimulate the U.S. economy?

Morgan Stanley's latest Global Debates Playbook outlines the major issues and attempts to predict what will happen next for the world's most important economies.

There remain wide disparities between the firm's bull and bear cases for pretty much every known sector.

Yet as foggy as things seem, we are reminded that, in developing countries at least, growth continues to be rapid.

Read on to see the big bank's take on the world.

Thanks to Morgan Stanley for giving us permission to feature these slides.