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ESSION RECESSION RECESSION RECESSION RECESSION RECESSION RE- SION RECESSION RECESSION RECESSION RECESSION RECESSION ESSION RECESSION RECESSION RECESSION RECESSION RECES- RECESSION RECESSION RECESSION RECESSION RECESSION RECESSION ESSION RECESSION RECESSION RECESSION RECESSION RECES- RECESSION RECESSION RECESSION RECESSION RECESSION RE- SION RECESSION RECESSION RECESSION RECESSION RECESSION SSION RECESSION RECESSION RECESSION RECESSION RECESSION RE- ON RECESSION RECESSION RECESSION RECESSION RECESSION RECES- 'R' DARE WE S THEAY WORD 38 APRIL 2008 www. C ANADIAN mag.com Changes in the global economy mean it will be a busy but unpredictable year for lawyers serving business clients. BY HELEN BURNET T August, recent market turmoil, and the constant reports of an emerging economic slowdown, dare we even say "recession." News of credit drying up, resulting in fewer large deals in- U volving private equity groups, coupled with tough markets and lowered investor sentiment for some sectors, could ultimately mean slowdowns for lawyers in certain areas of practice and dramatic upswings for others. While exactly how the economic picture is likely to pan out this year remains unclear, lawyers across the Canadian business world tell Canadian Lawyer they are preparing for a shift in the type of work they have been seeing in recent times. Thanks in part to work that continues to fl ow down the pipe- line from last year's huge transactions (like the BCE deal), npredictable, uncertain, busy for some — but defi nitely different. This is how some lawyers candidly describe the year ahead for areas of Canadian business law in 2008 following the "credit crunch" that hit the United States last