The U.S. has eclipsed China as the top growth target of global business leaders for the first time in at least five years, according to a survey by PricewaterhouseCoopers LLC. Thirty-eight percent of the more than 1,300 chief executive officers polled ranked the U.S. as their most important market for growth over the next year. That put it ahead of China for the first time since the question was first asked in 2010.
The result reflects how the U.S. economy is speeding up as China’s slows, reversing the forces which dominated the global economy since the 2008 financial crisis. How both fare in 2015 is set to be a hot topic of debate when the World Economic Forum’s annual meeting starts Wednesday in Davos, Switzerland.
“The world is facing significant challenges: economically, politically and socially,” Dennis M. Nally, chairman of PricewaterhouseCoopers International, said in a statement. “CEOs overall remain cautious in their near-term outlook for the worldwide economy, as well as for growth prospects for their own companies.”
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