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Developing countries pass stress-test of financial crisis with flying colors

Andrew Burns's picture

Developing countries are estimated to have grown by 7 percent in 2010, and growth is projected to come in at 6 and 6.1 percent in 2011 and 2012 (see Global Economic Prospects, January 2011) – more than twice as fast as high-income countries.  This return to very strong growth rates appears to confirm that the acceleration of growth that occurred during the late 1990s and into the early 2000s was indeed the result of improved fundamentals following years of structural reform, and not, as some had argued, an unsustainable reflect

Prospects Daily: Japan's credit rating downgraded by S&P to AA

Global Macroeconomics Team's picture

Important developments today:

1. Treasuries rebound after the latest debt auction

2. S&P knocks Japan’s credit rating down a notch to AA- on deflation and debt

3. Trade is showing evidence of a turnaround in the last months of 2010

4. Generally upbeat indicators for U.S. economy

5. consumer and business sentiment indicators hold prime space in the headlines

 

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