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Long hard slog (Q4 09)

The global recession has ended and we expect the recovery to look impressive in many economies - notably the US, China and Japan - over the next few quarters. The upswing is driven by a mix of factors, notably the support from policy stimulus, the release of pent-up investment spending, the turn in the inventory cycle, lower headline inflation and, especially important for Asian exporters, the revival in world trade.

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