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2013 outlook: Good to be hopeful but caution is well advised, says JP Morgan

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Sajjid Chinoy, India economist at JP Morgan, talks about the macro-economic themes for 2013 - reforms, recovery, rates and politics. While he is hopeful on all fronts, he says, it would do everyone good to stay focussed on reality and not get carried away. Mr Chinoy also states that the market may be under-estimating the fall-out from U.S. fiscal cliff.

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