Free-traders hope they will not demand too much, for fear of killing the Doha round and attracting the blame.

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Thus, it makes sense at this point to roll back the subsidies gradually while taking care to not impact smartphone demand too much.

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The solar sector, in short, remains a giant mess: Too many players, too much capacity, not enough demand and declining subsidies.

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Still, despite this, Obama seems to at least grasp the fact that the problem we face at the moment is not too much government, but insufficient demand.

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The government has focused too much on structural reform and not enough on sustaining demand, argues Mr Bofinger, who was recently appointed to the German council of economic experts.

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While the numbers were undoubtedly below market expectations, we believe it is unwise to read too much into the initial sales figure as it may not be an appropriate gauge of demand.

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