Strikingly the global recovery is being led by the Asian emerging market countries, of which club Korea counts itself a member, with the rapid growth of India and China and the consequent expansion of intra-regional trade. That said the picture is not without several downside risk factors.
In the US economy, where anticipations of an economic recovery were running high early in the year, labor and housing market related indicators have recently been coming in more subdued than expected and consumer confidence has also deteriorated.