The US economy has been slow for some time but has turned the corner and improving though not as fast as the people are expecting, US Consul General at Hyderabad Katherine Dhanani said.
Crisis in Europe, with which the US economy is closely related, is affecting the US while the other factors like budgetary deficit and debts were being tackled by the politicians, Ms. Dhanani said while talking with The Hindu here recently.
Asked if India and China, the emerging economic powers, pose a threat to the US, the US official said the US was of the opinion that India, China and the US could grow together and they are responsible for the world. “If America prospers so do India and China and that's great”, she said. America sees India as its future market and the post-globalisation and liberalisation period has created a welcoming environment, Ms. Katherine Dhanani observed. Investors are being given all facilities though steps have to be taken to open up some sectors.
“There are complaints from both sides but generally the image is positive and there is greater level of confidence”, she said. India was developing on the basis of concentrating on private sector, like the US. India, she felt benefited enormously due to liberalisation and globalisation and the US too had benefited due to India. Their trade and linkages had improved.
The US trade with India and other Asian countries was growing compared to the volume of trade with Europe.