China’s long shadow on the world

The European debt crisis made headlines in recent discussions on the prospects of the global economy in 2012. Most agencies in the business of predicting economic trends have warned of yet another slowdown. This was even before France lost its AAA rating earlier this month and several other countries in the region were downgraded by rating agencies. These agencies have predicted that some of the better-performing regions, in particular, Asia, will slow if Europe is unable to manage its debt problems.

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