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To borrow a phrase from the vernacular of American football, central bankers have taken the ball about as far down the gridiron as they can.
The ability of central banks to sustainably reflate the economies of the developed world remains very uncertain.
Emerging Asia will continue to perform well this year but will not be the world’s savior.
Although Emerging Asia will likely continue to be a growth outperformer, its growth is expected to slow down, and in our view it will not emerge as the world’s savior this time.
Central banks may ease policy amid growth concerns.