Don't hold your breath: economic rebound will be delayed

Citigroup Asset Management delivers a measured forecast, with China as the regionÆs only compelling story.
July 18, 2001
Although Citigroup Asset Management believes the global economic slowdown is coming to an end, Anthony Muh, regional head of investment, says a full recovery is unlikely until the first quarter of next year.

Recovery will not come in a U or a V or an L shape but in the shape of a teapot, he says, brandishing the image of a teapot with its spout half-way up one side, and economic growth in the direction of water pouring into the pot's lid and then rushing back up the spout. Recovery will not reach the same point because global economic growth had been above traditional growth rate trends, he explains.

The firm's caution rests...

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