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To: MichaelW who wrote (61173)	8/26/1998 4:49:00 PM
From: vip	Respond to of 176387

NEW YORK, Aug 26 (Reuters) - World economic growth is likely to slow, but a full-fledged global recession is unlikely this year or next, despite the mounting international financial crisis, Merrill Lynch's top economist said Wednesday. In a telephone interview, Merrill Lynch chief economist Bruce Steinberg said that, even as conditions in emerging economies -- most notably Russia -- continue to deteriorate, growth in the United States and Europe appears intact. ''To get a global recession, you have to see recessions in the U.S. or Europe,'' Steinberg said. ''Even in the worst case scenario in the emerging markets, that's not going to happen.''