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The Global Economy in the Face of a Change in Cycle
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Between graphs, interest rates and cross warnings, Luca Paolini, chief strategist of Pictet AM drew a portrait of the world that enters in 2025 without euphoria, but also without the vertigo of an imminent recession. The global economy, he said, advances in “a resilient trend”: it grows but without acceleration, it sustains itself but with visible cracks. The great backdrop remains the United States. Despite the impact of the trade war and the l…
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