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Vol 49 No 2

Published 16th January 2008

Panic, what panic?

The rich world's economies are sick and the looming recession in the United States has already triggered days of panic selling in Western and now Asian markets. Africa is caught in the middle of what many regard as part of a longer term shift of economic gravity from North America and Western Europe towards Asia. African gross domestic product (GDP) growth ­ let alone most of its stock markets ­ has never been directly correlated with the rich world's business cycles.

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