Dow Chemical CEO: US, Japan lead global recovery
The United States has been the "bright spot" in a stubbornly sluggish global economy, but Japan has been a "surprise positive" lately, too, Dow Chemical CEO Andrew Liveris said Wednesday.
"The U.S. has been the bright spot. I would say, most of this year, the U.S. has been better than what we had planned for and it shows in our results and equity price," said Liveris on "Closing Bell," adding the looming debt crisis and threat of a possible government shutdown remains a concern.
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To encourage hiring and economic growth in the United States, Liveris called for an energy policy that embraces use of natural gas.
On Japan's economic growth, Liveris credited Prime Minister Shinzo Abe and his economic policies. Commonly referred to as "Abenomics," Abe's economic policy is a blend of fiscal and monetary expansion while getting inflation under control. If anything, the policy has finally instilled confidence in Japan's business community, he said.
"I do think they're starting to enter the real global economy again," Liveris said.
Elsewhere in Asia, Liveris said China's economic "improvement is definitely there." He said the last few months have been positive for the People's Republic. Southeast Asia remains slow, though, he said.
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On the other hand, Liveris said Latin America continues to lag. He thinks Europe is "flatlining," but noted there's "a little good stuff" out of Germany following the reelection of Chancellor Angela Merkel.