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Growth has been around 3 or 4 percent for the past three years, roughly in line with the world average but still below where it was before the financial crisis. Growth is expected to be about 3 percent this year, unchanged from 2012. The World Bank says the country needs to shrink the government's involvement in the economy, clamp down on corruption and map a plan for its aging population. Stocks: The MSCI Russia index is down 13 percent this year, after rising 5 percent last year. India: Growth dipped to 4 percent last year, which is slow by India standards. It's possible that the economy is just taking a breather after years of blistering growth, experts say. India's growth eased to 8 percent in 2011 from 11 percent in 2010. Some investors see deeper problems, though. There are worries that the country, despite some recent changes, hasn't done enough to open itself to foreign investors. Others are waiting to see how elections fare next year, and wonder if a new government could stoke stability and tamp corruption. As more workers move from the countryside to the cities, it's vital that the country spend more on infrastructure like roads and the electric grid. India's economy is projected to grow 6 percent this year. Stocks: The India SENSEX is flat this year, after rising 26 percent last year. China: China has powered forward as it moves toward more of a market-based economy. It propped the world economy in the depths of the financial crisis, growing rapidly even when the economies of most other countries shrank. In 2012, China's economy grew about 8 percent. That was down from the 9 and 10 percent range of the previous four years but still one of the fastest rates in the world. Chan, from Chase Private Client, thinks the slowdown reflects the country's efforts to shift from an export-based economy to one focused more on consumer spending. The government is pumping more money into social programs, which should also spur consumer spending. Growth is expected to be 8 percent this year. Stocks: The Shanghai Composite Index is down 3 percent this year, after rising 3 percent last year. South Africa: South Africa has successfully transformed itself from apartheid to a democracy with modern infrastructure. Growth, however, has been around just 2 or 3 percent for the past three years, less than the world average. It is expected to pick up slightly this year, to 2.8 percent from 2.5 percent. The country is saddled with a devastating unemployment rate of 25 percent, and it's expected to get worse. The country was hurt by an electricity crisis in 2007, which was caused by aging power plants. Then the global financial crisis reduced demand for South Africa's raw materials, including gold, diamonds and platinum. This year, the mining industry has been plagued by violent strikes. High rates of HIV and AIDS are straining the health care system, and deep inequalities between the rich and poor are hindering growth, according to the World Bank. Stocks: The MSCI South Africa index is down 5 percent this year, after rising 21 percent last year.
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