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Headline: US growth will outperform all others Source: euromoney.com Date: June 2001 Author: David Roche Which economic bloc is going to perform best this year, Europe or North America? The consensus is that the US is heading for very low growth, say under 2%, while Europe will do better, with 2.5% at least. But, contrary to the European Central Bank, I reckon Europe will perform worse than the US over the next 12 months. Europe, with its decades of declining investment-to-GDP ratio, has none of the hidden springs of productivity the US can draw on. |
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