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Global Economic Forecast:
World Outlook Good, But Oil and Deficits Are Worries

Posted December 7, 2004 | Categories: Forecasts, Hawaii's Economy

The global expansion is running up against the biggest energy price increases in many years. While nothing like 1970s stagflation is expected, high oil prices have slowed the economy moderately. The global business cycle will peak this year, but with healthy growth continuing in 2005. Unlike past business cycle expansions, China has joined the U.S. as an important engine for global growth.

forecast Summary

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