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Staying rational in risk-filled world

Significant areas of risks include China's shadow banking system, structural inefficiencies in Europe and political uncertainty

THE recent volatility in global markets is unremarkable. What is remarkable is the lack of volatility in the past two years. The macro conditions we envisaged in 2012 continue to hold. The world continues to recover, albeit at a slower, long-term trend growth rate. Long-term trend growth is

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