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Slowdown and face facts - PWC's Nally

Friday, June 21, 2013 - 03:56

June 21 - Dennis Nally, CEO of the world's largest accounting firm PWC, warns that glacial global growth will continue for another two years.

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Level investors get an audience and because Vick cheered cajun Waltz the investment climates in Russia is now in the mood -- three -- dog has many say. Should -- now -- price Waterhouse Coopers chief Dennis knowledge and his team she had a duck -- what's what's your assessment. Well I think you've got to put it in context. You know I I stepped back and I say. You know coming out of financial crisis we all know how connected these economies really are. And the reality is we're in a period of slow economic growth globally. And we would say that's gonna happen continue two over the next twelve point four months and of course rush is a big player in the global economy and so. While things are not all that positive I think he's got to look at the context of how does it really stack helped lift with the rest of the world and I think we're. Period of slow growth and I think -- -- clearly is impacting outlook here in Russia as well. That's a year ago. Pass the enthusiasm for the best -- of the -- community someone dumped them. In Russia you know told Sasha. That's here again. I don't think it's damp and I I think I think the desirability. Of making investments today. Is sound from what it was a year ago and that's not unique to rush and quite frankly I think. There's concern about the period of time it's gonna take -- to get this global economy moving forward again. China you know it is is slower today than a year ago. India slower today than a year ago Brazil slower today than a year ago. A bright spot may -- United States which is sort of pick up a little traction although. I would declare victory in our economy today as well but I think as long as you have this period of uncertainty. Which you do globally. I think you're gonna see your reluctance to be very aggressive with how you make some of these discretionary investments and I think that may be what it is you're seeing and feeling. Here in Russia at Saint Petersburg. And imagine markets have been investors darlings and plus decades do you think that China has some more coming off now and people will come back here. -- markets wise maybe Europeans. Well I you know it's an interesting question and I I think there's a direct correlation in China specifically to the change in leadership. I like anything else new leaders what are their priorities clearly the economy slowed investors are cautious until they understand exactly what's gonna happen there. So it's like do things you've got this pause. And with that I think there's going to be a lot of new opportunities whether China India. Indonesia -- in -- after this. Very exciting part of the world do a lot of interesting things a lot of interest. But again some of the cautions on the uncertainty about how aggressive do you wanna be live. The local -- and that part of the world as well. This -- this thing done you took about saying prayers -- sponsored -- in many regions how long do you think there's -- forces below us. Well you know and worry into twelve to 24 months in terms of what we're looking at a -- we see Europe. Very very much in a global -- position or fairly long period of time. China I think has yet to be seen big question mark as I mentioned with the leadership changes but nonetheless. That's a factor that that that certainly is driving the global economy. You know here in Russia. You know people are looking at you know much slower growth over the next 1218 months of what was predicted even six months ago. So I think we've got some mom -- some headwinds in front of us for the next couple years that's just the reality companies today. Are really challenge -- how do you grow in this slow growth environment and I think that's -- could be the reality is going to be with us for --

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Slowdown and face facts - PWC's Nally

Friday, June 21, 2013 - 03:56