The 2014 Scotiabank Economic and Market Outlook Conference (EMOC) offered a measure of optimism to investors. “Global economic activity remains highly uneven, with U.S. consumers getting back in a spending mood and Europe showing signs of crawling out of a lengthy recession just as China and some other new world powerhouses are losing momentum,” said Warren Jestin, Senior Vice President and Chief Economist, Scotiabank. “From a Canadian perspective, the cyclical recovery of U.S. consumer spending and the prospect of a comprehensive trade deal with Europe are positive for exporters.
“On a longer-term basis, the real game changer in terms of opportunity is the rapid emergence of domestic demand in Asia and Latin America,” added Dr. Jestin. “These nations are making the transition from world-class producers to consumers at an astonishing rate and will account for an increasing share of global economic activity over the balance of the decade.”
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