Financing World Growth

After countless false starts, the elusive global economic recovery has arrived. No longer is the U.S. the Little Engine That Could, laboring to pull the other major economies out of recession. In Europe, thanks in part to strong exports to the U.S., most nations are aboard the expansion train, with average growth projected to hit 2.7% this year and next. And recovery is apparent even in Japan, where 6.2 trillion yen worth of tax cuts are helping to revive an economy derailed by financial and real estate problems.

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