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2013 outlook is policy dependent

American Shipper Magazine

Monday, November 19, 2012

At this point it’s very clear that the United States and world economic outlooks are dependent on the decisions taken by policymakers. It should also be clear that the developed economies are in the midst of reducing debt levels, a process called deleveraging. The U.S. economy has managed to continue to grow despite the threat of the “Fiscal Cliff,” automatic spending cuts and tax hikes scheduled for January 2013 that could instantly lower GDP by a few percentage points,...

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