Bond Outlook [by bridport & cie, July 8th 2009]
“Asia bails out the Western economies” would not be such a fanciful headline in the financial press. The sea change in the world economy, with an economic shift in favour of Asia, and which we again stressed last week, is now bringing benefit to the West, with Germany first in line to see an increase in exports to Asia great enough to wash through to growth in industrial output. |
The parallel with the Titanic comes to mind. |
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