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to rise to 10% Improvements in operating environment should allow enhanced profitability 。China and the global economy Why ignoring China is no longer an option..... Robin Bew, Chief Economist June 20xx The global outlook Key points for 20xx05 World growth fantastic ? best for 20 years in 20xx ? developed and emerging markets surging ahead Exceptional times cannot last ? tipping point may have already passed ? international liquidity is tightening ? coping with the transition ? global policy tightening ? will slow world growth Slowdown likely, but risks of worse United State