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Cisco CEO's view of the global economy

Wednesday, 25 Sep 2013 | 4:50 PM ET
Cisco CEO: Engine of growth is in US
Wednesday, 25 Sep 2013 | 4:31 PM ET
Cisco shares have outperformed the broader market this year, up 30 percent. John Chambers, Cisco Systems chairman and CEO, discusses innovation, cloud computing, and emerging markets. Eric Schmidt, Google executive chairman, weighs in.

Cisco Systems CEO John Chambers said Wednesday that while the United States will likely continue to be the "engine of growth" for the global economy, he sees strength in several markets in the intermediate and long term for technology.

Chambers' comments came after Google Executive Chairman Eric Schmidt, also appearing on "Closing Bell," asked if global growth would still mostly come from Asia.

(Read more: Google's Schmidt slams Fed leak)

"I think it's going to be more balanced than that ... Europe's recovering better than most people anticipated, especially in Northern Europe," Chambers said. "The engine of growth is clearly the U.S."

Emerging markets, whether in the Latin America or Asia-Pacific regions, are "a little bit mixed," he said. China continues to be challenging, too, he said.

(Read more: Dow Chemical CEO: US, Japan shine)

—By CNBC's Drew Sandholm with Reuters. Follow him on Twitter @DrewSandholm

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