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Global trade to make 'modest recovery' in 2013: HSBC
- Middle East: Tuesday, November 13 - 2012 at 02:02
HSBC has said global trade will stage a modest recovery in 2013, with businesses more confident than some politicians that slow economic growth will not spawn protectionism, Reuters has reported. Trade is expected to grow about 5% next year, picking up to a range of 6-7% in 2014-2016, driven by ever-closer commercial links between emerging markets, the lender said. The forecast echoes that of the World Trade Organisation, which expects growth of 4.5%, up from just 2.5% this year.
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