Postcards
Portugal New
Having always been a quiet performer in Europe, Portugal found itself unexpectedly thrust into the spotlight this year when attention was drawn to its budget deficit, which climbed to 9.4% in 2009. But with 382.5 tons of gold in its coffers, does Portugal have a safety net?
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Global Overview
Growth concerns rise as data disappoints New
If the concerns earlier this year were mostly about the European economy, the prospect of weaker economic conditions in other large economies, including the U.S. and even China, disturbed investor sentiment last month.
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Monthly Economic Reviews
Asia Pacific New
The Asian Development Bank (ADB) raised its 2010 forecast for Developing Asia from 7.5% to 7.9%, stating that strong exports, rising domestic consumption and stimulus initiatives in various countries could take the region’s growth trajectory higher.
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Middle East New
South Africa must ramp up its manufacturing output and strengthen its exports to achieve healthy economy growth even as Israel is suffering from a sliding PMI due to sluggish domestic and international demand.
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Country Profiles
South Korea Updated
The global economic recession that began in 2007 with the collapse of Lehmann Brothers struck down South Korea’s burgeoning economy. Its key automotive industry suffered as customers in the U.S. and Europe cut back on buying and spending.
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Turkey New
Turkey, with a history dating back to the dawn of civilization, has been making giant strides in transforming its economy. Despite being hit hard by the recession, the country has bounced back fast and is all set to become a member of the European Union.
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Colombia New
Leaving a violent past behind, Colombia is slowly emerging as a force to reckon with in Latin America. Under the able leadership of outgoing President Uribe, the country made good economic progress and the economy is expected to grow at the rate of 2.5% this year, helped by the turnaround in demand for its commodity exports.
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