Global economy can endure a US slowdown

The rise of Asia has reduced the dependence on the US as a driver of global growth, says Standard & Poor's.

The global economic outlook for 2008 hinges to some extent on a fairly familiar dynamic how conditions in the US - the single biggest national economy ù affect the rest of the world. This time, however, the answer may not be the familiar one. A cooler US economy isn't likely to freeze other countries in the way it often has in the past.

Simply put, Standard Poor's Ratings Services thinks the current US slowdown is much less critical than it...

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