• The global economy is recovering, despite the weakness in the West. It will be difficult for the US to achieve more than 2% GDP growth this year; fiscal tightening and policy uncertainty will cast shadows on the turnaround in the housing and energ...
• Asia is still partly insulated from the West – in much of the region, domestic demand has grown more strongly than exports in 2012. However, Asia has been slowing in recent months. We expect growth to turn up in H1-2013, and we forecast better gro...
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The world economy is in transition. Global growth rates are picking up, but transition means elevated risks and volatility.
In terms of global implications, all eyes will be on the US and China, with the US normalising monetary policy and China rebalancing its economy.
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