Asia to lead economic recovery?

THE slew of encouraging economic data continue to trigger hopes for an earlier-than-expected recovery for the world economy. Even so, economists are putting their bets on different regions to be the one that will lead the recovery process. While it is widely anticipated that it would be Asia, especially China, some US-based economists would beg to differ.

For instance, global strategist of Pointon York Ltd, Roger Nightingale, in a recent television interview argued that the US economy would be the first to shake off recession and return to growth. His argument was based on the fact that the import data of Asian countries, especially China, had remained persistently weak, and these were indicators of sluggish economic activities ahead. He believed the US economy was still the one looking the best at the moment.