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The global economy is set for a good 2007, leading economists have forecast at the World Economic Forum in Davos.
Strong growth in Europe and the Asia Pacific region should balance a possible slowdown in the US.
The experts also identified risks: a weak US housing market, rising oil prices and soaring interest rates.
However, the world was also better prepared to cope with any fallout, they said, because globalisation had removed imbalances in the world economy.
'Goldilocks economy'
About 40% to 50% of the global economic output is now being produced by emerging economies.
As a result the world was no longer dependent on the US economic engine to pull it along, said Laura Tyson, professor of economics at University of California, Berkeley....
http://news.bbc.co.uk/2/hi/business/6294661.stm
Strong growth in Europe and the Asia Pacific region should balance a possible slowdown in the US.
The experts also identified risks: a weak US housing market, rising oil prices and soaring interest rates.
However, the world was also better prepared to cope with any fallout, they said, because globalisation had removed imbalances in the world economy.
'Goldilocks economy'
About 40% to 50% of the global economic output is now being produced by emerging economies.
As a result the world was no longer dependent on the US economic engine to pull it along, said Laura Tyson, professor of economics at University of California, Berkeley....
http://news.bbc.co.uk/2/hi/business/6294661.stm
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