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- Global growth slows to sub-trend in 2008, same expected for 2009;
- Soft conditions in developed economies, emerging markets driving most global growth now;
- US near recession, Eurozone and Japan slowing, China and India set to slow;
- Inflation the highest since early 1990's but no further lift expected despite upside risks;
- Price concerns put floor under interest rates even as activity softens.
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