“U.S. Economy Will Adapt Faster Than Europe”
In the November 9, 2009 issue of Livemint, Booz & Company CEO Shumeet Banerji predicted a “long and slow” recovery from the global recession. Speaking during a break at the India Economic Summit in New Delhi, Banerji said he believes there will be a somewhat faster improvement in the U.S. with economic troubles in Europe and Japan to last for a time. Overall, “the U.S. is more flexible, is generally more innovative and … will adapt quicker,” he added. “ I think there is much more structural rigidity in Europe and it will make it harder and longer for recovery.” At the Summit, Banerji joined Carlos Ghosn, Chairman and CEO, Renault, and President and CEO, Nissan; and Indra Nooyi, Chairman and CEO of PepsiCo, as a co-chair.