SINGAPORE: The chief executive of GlaxoSmithKline, the world's second-largest drug maker by revenue, said the global economy could remain sluggish for some time as tight credit markets and cautious corporate investment hamper growth.
Andrew Witty, Glaxo's CEO, said banks remain leery of lending and companies are still "risk averse" as the impact of a credit crisis that began in the U.S. sub-prime mortgage sector in 2007 undermines investment.
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