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As global recession warnings sound, markets hit the afterburners
Oct 7 Like bulls in a China shop, financial markets have gone on the rampage just as predictions of another global recession gain ground and talk swirls of a lost decade in Beijing. Having taken a 13 percent battering over August and September, MSCI's 45-country world stock index has clawed back exactly half of that in an astonishing turnaround this week. It seems particularly odd timing, coming as renowned Citi economist Willem Buiter warns China could drag the world back into a two- or even three-year recession and Societe Generale flags the dangers of a Japanese-style decade of stagnation. Hard data has also taken ... (full story)