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Emerging Economies First to Recover, JPMorgan Says

Emerging markets are the last to slip into the global recession and will be the first to recover as governments in China and other developing countries introduce measures to stimulate their economies, JPMorgan Chase & Co. said.

Interest-rate cuts and fiscal spending will help emerging- market economies recover eventually, even as growth and corporate profits continue to weaken in early 2009, analysts led by Adrian Mowat, JPMorgan’s chief Asian and emerging market equity strategist, said in a report today. They favor so-called early cyclical stocks such as financial, domestic consumer discretionary and consumer technology companies.

complete article @ Bloomberg

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