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US in recession, global economy moving closer

Morgan Stanley's Gregory Peters warns that Asian economies are not immune as the global economy slides into recession.
The United States economy has already entered a recession, and the global economy as a whole is in real danger of entering one, warns Gregory Peters, global head of fixed income at Morgan Stanley. New York-based Peters says that major indicators in the US already suggest the world's biggest economy has entered a recession, and with the contagion spreading to Europe and Asia, the global economy will inevitably slip into one.

The US has already entered into a recession and we are now looking at global recession, Peters told FinanceAsia while on a brief visit to Hong Kong last week.

Peters says because of the inter-connectivity of the global economies, export-driven Asian economies may...
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