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The global recovery started early last year in China, India, and Indonesia and quickly spread to the other emerging-market and advanced economies of the Asia-Pacific region, with Japan lagging somewhat behind. For 2010, growth in emerging Asia is now forecast to surpass 8 percent, led by 10 percent real growth in China. For 2011 modest cooling of growth is projected for China and most of the Asia-Pacific region. For Japan, growth this year will meaningfully exceed the Consensus Forecast of less than 2 percent and will be sustained at 3 percent in 2011.
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