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  Gates Sees No Economic Recovery in 2002
Time: 02:06 EST/07:06 GMT | News Source: Reuters | Posted By: Robert Stein

Microsoft Corp. Chairman Bill Gates said on Sunday that he sees no global economic recovery this year, countering a budding groundswell of optimism tied to economic data pointing to a fast rebound. Gates, co-founder of the world's largest software supplier, said that corporate capital spending cuts and a glut of excess capacity in hard-hit sectors such as telecommunications may keep the economy moving sideways through the rest of 2002.

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