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Subject

Prospects for global infrastructure in the fourth quarter.

Significance

Major agreements such as the Trans-Pacific Partnership (TPP) need to be accompanied by port and other logistics infrastructure expansions if they are to boost trade substantially in the developing world. New funding sources such as the Asian Infrastructure Investment Bank (AIIB) will help in the long term. Yet smaller trade volumes, linked to China's cooling growth, could lead to short-term overcapacity.

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