"As Banco Espanol de Credito SA kicks off fourth-quarter Spanish bank earnings reporting tomorrow, investors will look for signs that lenders can sustain profit as costs climb."
King’s words make clear that even as the U.S. works to spur greater growth, large stretches of the developed world still haven’t figured out how to ease out of this crisis -- or prevent the next one. As Western policy makers spend another year trying to find a prescription for prosperity, their faster-growing, debt-free rivals are busy transforming the global economy.
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