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But can he weather the storm in a harsh political environment, and against what he believes are politically driven charges?

With a $53.2bn endowment - a figure that is larger than the GDP of some small countries - Harvard is uniquely able to weather the storm.

While China may be better placed to weather the storm than other countries, the reality is that it is still an export driven economy.

The Bank of England itself has noted that, in any case, British households are well placed to weather the storm; our debt relative to our incomes is at its lowest level since 2001.

"We knew we were going to have to weather the storm," the Bologna captain said.