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Herr Schmidt was quite mistaken in his view that Japan is the Billy No Mates of Asia
Russia
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Hey presto! – the land of the pyramids morphs into a mid-century powerhouse.
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Optimism, confidence and assertiveness go together. If Abenomics works, we can expect plenty more of them.
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It wasn’t supposed to happen this way. The biggest surprise for equity investors in 2011 was not the weakness of the crisis-ravaged European markets, but the carnage in the stock markets of the emerging economies.
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Serious sport, according to George Orwell, is war minus the shooting. In the words of Bill Shankly, legendary manager of Liverpool F.C., football is not a matter of life and death; it’s much more important than that.
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Emerging markets, it seems, have had a good crisis. In contrast to the debt-ridden G7 economies, they have quickly resumed their growth trajectory. No surprise, then, that US emerging market mutual funds are experiencing record inflows. The stellar performance of the Brics markets – Brazil, Russia, Indian and China – is due to continue into the distant future.