Still, he said, a successful free market economy needs unions.

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Most believe the housing market needs to be strong for the economy to recover.

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"The last thing the European economy needs now is questioning of the single market, " a senior EU official said.

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Yet with rising inflation and an overvalued property market, more money may be the last thing the economy needs.

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With its biggest export market in a funk, China needs to accelerate the rebalancing of its economy towards domestic consumption, with the help of a stronger currency.

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If a product is well designed and meets the needs of the consumer, it will find success in a market economy.

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In fact, the economy needs AFTA in order to get better, particularly since a unified ASEAN market should gin up exports and investment.

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China's huge size means that to maintain stellar growth rates, the economy needs to move up the value-added chain fast and grab more export market share.

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The enthusiasm in the stock market needs to be tempered by the economic news, which still does not indicate a robust economy.

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Mr. Bernanke stressed the point that our economy needs community banks, as they are sometimes the only bank that has the local market intelligence and expertise to make desperately-needed small business loans.

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