TIME Global Business Report: Who Will Drive... The World Economy?

With the U.S. losing its superheated head of steam, TIME's Board of Economists examines which regions can pick up the slack

Is it Europe's turn to run the world? The prevailing mood at this year's World Economic Forum meeting in Davos was that the U.S., once the home of irrational exuberance and dotcom mania, is just so 20th century. Yet the five members of TIME's Board of Economists, which convened in the Swiss ski resort, were less than unanimous. No one disputed that the U.S. economy is slowing and could even grind toward a recession, though most agreed that a recovery would come by late this year. The hottest debate was over Europe's ability to isolate itself from the woes across the...

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