INDIA AND CHINA LOOK FOR ADDED GAINS IN THEIR GROWTH DRIVES
S. Sethuraman
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2009-11-02 11:14
Developing Asia is on a fast rebound from the global downturn, with China and India leading a world recovery, and this should get reinforced with US economy's unexpected 3.5 per cent growth in the third quarter (July-September). For the world's largest economy, the outcome breaks four successive quarters of decline but it is still early to conclude that its longest and deepest recession since the Great Depression has come to an end. 2009 is a year of contraction for the global economy as a whole with the worst slump undergone by Europe and USA. Recovery is expected to be sluggish for most of the advanced economies through 2010.