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What Happened? - 2011

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Two centuries of western hegemony may be coming to a close rather earlier than many had imagined: in 2011 the economies of the rising states are likely to grow by 8% more, while debt-burdened advanced nations will mostly struggle to expand by more than 2%. The pattern is well-established.  The global divide is now between slow- and fast-growing nations as much as between the rich and the rising.

Meanwhile, top economists forecast some more specific outcomes for 2011, including completion of the Doha round of trade talks, a strong focus on deficit reduction in many countries, continuing uncertainty in the eurozone and continued recovery overshadowed by the the threat of state defaults.