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The G20 in the aftermath of the crisis: a Euro-Asian view

By Agnès Bénassy-Quéré and Jean Pisani-Ferry

Abstract

In 2009 the global economy switched from recession to recovery. However, the pace of the recovery has been very different in different parts of the world, with the divergence between emerging and mature economies becoming greater than expected. Europe and emerging Asia are in this respect in clearly opposite situations, while the Japanese situation is closer to that of Europe than to those of its neighbours (Figure 1 on the next page).

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