“The long-term growth scenario keeps getting weaker and weaker. The Conference Board has released data showing that world economic growth will drop from 3.2% in 2012 to 3.0% in 2013. While mature economies are a drag, emerging markets did not pick up the slack in 2012 and the Conference Board does not expect them to in 2013. Sluggish trade and low foreign direct investment are being hampered by the coming fiscal cliff, reform in Europe, and even the leadership change in China.
On advanced economies and Europe: ”
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