(Nov 6): The global economy continues to power ahead, helping elevate stock markets to new multi-year highs this past week. Economic growth in the third quarter for both the US and Europe was at the fastest pace in three years. Moreover, indices of consumer and business confidence in both these large economies have soared to their highest levels since 2001. Now, we are beginning to see tentative signs that the missing ingredient in the global recovery — capital spending — might be kicking in. If this does indeed materialise, it would be a huge positive for the global economy and, most of all, Asian exporters.

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