Looking ahead, China is likely to meet its growth targets, but it is not clear how rapidly China will re-balance its pattern of growth.

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The monetary base and various measures of the money supply followed that pattern--very slow growth for about a year then explosive growth in recent weeks.

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In the near term, we expect the pattern of seesaw quarter-over-quarter growth to continue, with significantly slower growth in the second quarter than the first, then a pickup in the third quarter.

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This kind of commercial thuggery will condemn Argentina to a long-term pattern of subpar progress punctuated by periodic, but short-lived, surges of growth.

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The right response to that, though, would be to curb pollution and try to alter the pattern of growth to make it less resource-intensive, rather than to control population directly.

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The pattern of future growth may, relatively speaking, favour today's low-income groups more than the better-off.

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Mr. Agassi's departure as chief executive would follow a pattern among other start-ups in which founders are replaced at the helm by managers in order to oversee growth.

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They also saw a slight improvement at companies accused of accounting fraud, which they said might be attributed to a well-documented pattern of cost-cutting and asset sales at once-highflying companies that played with the books to keep their abnormal growth rates going.

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