The topsy-turvy start to the new year in financial markets has not affected American shoppers yet, Coca-Cola Chairman and CEO Muhtar Kent said Thursday.
"The financial contagion ... has not passed over the wall to the consumer. And hopefully it will stay that way," he told CNBC's "Squawk Box" in an interview from the World Economic Forum in Davos, Switzerland.
But he said, "What used to be the darlings, and the BRICS, and the emerging countries is no longer." The term "BRICS" refers to the economies of Brazil, Russia, India, China and South Africa.
"I like to say, 'My favorite emerging market right now is the United States of America,'" Kent said, ironically, acknowledging the treacherous global marketplace where the stronger dollar has been making it tough for multinational companies.
"Everything is volatile. Commodities are volatile," he observed, though Kent did say cheaper oil been a boon in the past six months. "It does help with distribution costs, but more important than that ... particularly in a place like the United States, it helps the consumer."