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Expectation of global recovery premature: Economist, BUSINESS TIMES
Business Times (Malaysia), June, 2001 by Lee Siew Lian
Business Times (Malaysia) 06-07-2001 IT MAY be premature to expect aggressive monetary easing worldwide will revive global growth any time soon, says economist Kostas Panagiotou. The economist from Singapore's Kim Eng Securities expects production will continue to fall in Organization for Economic Cooperation and Development (OECD) economies, which will lead to a deeper and longer global downturn than most market players anticipate.
"In the coming months, I expect a new wave of recessionary economic data to discredit the consensus `V-shaped' recovery scenario," he said in a monthly update on Asian liquidity flows. "I still expect equity markets to hit bottom well before the global economy recovers, but not before the ferocity of the recession...
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