World Economy

Cisco CEO's view of the global economy

Cisco CEO: Engine of growth is in US

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.

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"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.

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