Defending the motion

Anatole Kaletsky, Co-chairman and chief economist, GaveKal Dragonomics

Even if every region's economic prospects have deteriorated significantly and permanently as a result of the 2008 crisis, the world economy as a whole could still grow as strongly in 2013 as in the pre-crisis period—and substantially faster than in 2012.

Against the motion

Mohamed El-Erian, CEO, PIMCO

The global economy is healing, and yes there are beneficial secular trends in play; but they are not yet sufficient to overcome in 2013 the drag associated with years of excess leverage, risk-taking gone mad and insufficient investment in infrastructure and human capital

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