• Sat
  • Sep 20, 2014
  • Updated: 1:30am

US to stay growth engine

PUBLISHED : Tuesday, 31 October, 2000, 12:00am
UPDATED : Tuesday, 31 October, 2000, 12:00am

The United States economy's unprecedented strength will continue to drive global growth for the foreseeable future, said one of the country's leading economists, Arthur Laffer.


Mr Laffer - a former Reagan administration adviser - said the US economy was in a 'dream period' of prosperity and growth and, barring any severe government intervention, would remain so.


On Friday, US gross domestic product came in at 2.7 per cent. The figure revealed a slowing US economy and analysts are questioning how far this will affect Asian economies, as buoyant US growth has been a key factor in restoring Asian growth post-1997.


Economists fear a US slowdown will cause Asia to lose its primary economic engine.


According to Mr Laffer China's pro-supply side policies would ensure it became one of the most important nations economically.


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