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China sustains global expansion

Overview

Pundits are split on the outlook for the global economy. The optimists argue that we are in the biggest, sustained world economic expansion for many decades. This view is attacked as polyannish by those in the pessimists’ camp – they counter that the recent economic boom is living on borrowed time – literally – and that the excesses of the US expansion are leading to a hard landing, as unsustainable asset bubbles are punctured.

Our view is that global expansion will continue to...

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