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Back in what now seems like the good old days of 2007, the hopes were for a ‘soft landing’ with slower growth of 4-6 quarters before the boom times resumed their natural course.
As the blood started flowing in the City, the goalposts for the start of recovery started to move. It was hoped that by the middle of 2009 economic recovery would resume.
As the economic data became bleaker by the day at the start of 2009, the prospects for 2010 were similarly downgraded.
The consensus for 2010 has now shifted to flat to negative growth, with the Economist forecasting 1.1 per cent drop in GDP.
The Bank of England Interest Rate, Inflation and the three month Treasury rate are expected to stay low at under 1 per cent, under 1 per cent and 1.3 per cent respectively.
Today, the UK is seen as the most open Western economy to Chinese investment. Britain on the one hand needs Chinese trade and investment to reinvigorate its economy, while the Chinese sees London as crucial to its efforts to internationalise the yuan and open a financial gateway to Europe. Read more
Jeffrey D. Sachs,
Mario Blejer & Eduardo Levy Yeyati,
Isam al Khafaji,
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