Global economic developments have been distinctly mixed over the past quarter. On the one hand, economic growth in both leading developed and developing countries has been disappointing. On the other hand, fears over a doomsday outcome to the euro zone’s woes have eased—at least for now. As such, while there is unlikely to be a spectacular or rapid recovery, hopes that the global economy will post solid growth over the medium term appear more reasonable. As ever, the key risk to this scenario stems from political factors in the euro zone countries, as well as in the US.
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