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India strong; global economy in good shape: JPMorgan

For the first time in 25 years, the outlook for India is stronger than China atleast for the next two years, says James Glassman, senior economist at JPMorgan. Despite the myriad challenges facing the Chinese economy, the global economy is in good shape, he told CNBC-TV18. According to him, the market bounce back is as puzzling as the fall. He does not think there is any need to worry about the correction in equity markets as global fundamentals remain unchanged. He also believes that with the US economy moving forward, a possible September rate hike is on the cards. He says it is not so much about the kind of data coming out of the United States, but about bringing the Fed policy back to normal.2-2“The longer the Federal Reserve delays hiking rates, the quicker it will have to move. This may be more destructive,” he adds. Against this background, he adds that the global markets bounce back is not surprising. Glassman also adds that the worst for emerging markets is behind us.

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