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G7 Meeting
"The recovery in the world economy has already begun, and the US and Europe can expect to see growth strengthening as the year wears on, according to the finance ministers and central bankers who met in Ottawa at the weekend for the meeting of the Group of Seven large economies."
"'On the part of all participants, including the IMF [International Monetary Fund], we found that people were more optimistic than they were three months ago,' said David Dodge, governor of the central bank of Canada. 'The signs are mounting that we've turned the corner.'"
"Paul O'Neill, the US Treasury secretary, said: 'We see more signs every day indicating a recovery is under way.' He repeated his prediction that US growth would rise to an annual rate of 3 to 3.5 per cent by the fourth quarter of the year."
"European officials expressed concern about imbalances in the US economy, and the high level of equity prices, but their overall assessment was similarly positive."
"Wim Duisenberg, president of the European Central Bank, said: 'The risk of recession in the world economy, which could not be fully ruled out in late 2001, seems now to have faded away.'" ... [more] ... [chinese perspective]
10:14:42 AM 
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