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Biggest threat to global economy is politics NEW YORK (CNNMoney) The International Monetary Fund said Monday that the global economy should continue to limp along at a modest pace, assuming leaders in Europe and the United States do not make things worse.

In the latest update to its World kate spade purses canada Economic Outlook, the IMF said it expects the global economy to grow 3.5% this year and 3.9% in 2013. Such measures include the expiration of the Bush tax cuts, middle class protection from the Alternative Minimum Tax, and more than 50 "temporary" tax breaks for individuals buy kate spade shoes online and businesses that have been on the books for years. Meanwhile, the IMF expects developing economies to grow at a slightly slower pace.

China, for example, is kate spade usa factory outlet now forecast to expand 8% this year, down from 8.2% in kate spade outlet luggage the previous outlook. The IMF also trimmed its projections for growth in Brazil and India.

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