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Global economy in worst shape since 2009 -
July 22, 2012
World News From SFGate
Global economy in worst shape since 2009 Associated Press Copyright 2012 Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed. Updated 09:38 a.m., Sunday, July 22, 2012 [...] many economists say European policymakers aren't moving fast enough to strengthen European banks and ease borrowing costs for Italy and Spain. Stock prices in the United States and elsewhere are fluctuating almost daily depending on the outlook for a resolution of Europe's debt crisis. Advanced Micro Devices, a California-based maker of computer chips used in everything from slot machines to smart cameras, says revenue likely dropped 11 percent in the second quarter because of weaker-than-expected sales in China and Europe. The global slowdown is squeezing U.S. exports, which have accounted for an unusually large 43 percent share of U.S. growth since the recession officially ended in June 2009. U.S. companies are nervous about the threat of tax increases...
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