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Prof. Michael Spence's views are cited in an op-ed on the impact of political instability

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Excerpt from Financial Times -- "The wider lesson, according to Michael Spence, a winner of the Nobel Prize for economics, is that the main current threats to prosperity – those that urgently need effective international co-operation – are the spillover effects of regional tensions, conflict and competing claims to spheres of influence. The most powerful impediment to growth, he adds, is a loss of confidence in the systems that made rising global interdependence possible."

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