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2012 will bring another global economic crisis. It could have been avoided if America and other deficit countries had embarked on currency devaluation and tighter domestic policy to sustain recovery and growth, but they didn't. Savings-rich countries, notably China, have not helped.
Charles Dumas and Diana Choyleva go on to argue that America will emerge from the slump in the strongest shape. These are precarious times. To understand and prepare for them, this book will be invaluable
Charles Dumas is chairman of Lombard Street Research in London, United Kingdom.
Diana Choyleva is a director of Lombard Street Research, based in Hong Kong, China.
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