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Olivier Blanchard, chief economist of the International Monetary Fund (IMF), gestures during a news conference in Mexico City, Mexico, on Thursday, July 24, 2014. The IMF lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. Photographer: Susana Gonzalez/Bloomberg via Getty Images

Olivier Blanchard, chief economist of the International Monetary Fund (IMF), gestures during a news conference in Mexico City, Mexico, on Thursday, July 24, 2014. The IMF lowered its outlook for global growth this year as expansions weaken from China to the U.S. and military conflicts raise the risk of a surge in oil prices. Photographer: Susana Gonzalez/Bloomberg via Getty Images