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The UK and France added a few extra percent to their GDPs by including drug-dealing, prostitution and smuggling.
Italy
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How much more “emerging” have the emerging markets left to do? Probably not much, given the vast amount of capital and hope invested in the asset class already.
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How did the people who sighted the first black swan respond to the shock? After the collapse of the assumption that all swans were white, did they then conclude that swans could be any colour – red, green, or blue?