Revival in US economy to take time: Wilbur Ross

Excerpts from Bazaar on CNBC-TV18 Watch the full show » ALSO READ See what other FIIs are saying about the markets See what other experts are saying about markets See what Udayan Mukherjee is saying about the markets Nifty BSE | NSE 31/05/12 Are Mutual Funds betting on Nifty?

Q: Having said that are you beginning to feel little bit more optimistic about the US economy after the proverbial green shoots that have been spoken about a lot. Earlier there was one call that the US is probably heading the Japan way and will have to write-off a few years of economic growth. Is it looking a bit better than that? Have things improved in your eyes?
A: I don't think the US economy has the same characteristics as the Japanese. Americans by their nature are much more susceptible to change than Japan society. We don't have the same consensus on decision making; the whole structure of things is quite different. So I don't think we will have a vanished ten years for a long shot. But it will be a while before any prosperity recurs because the credit bubble over inflated economy in some of the prior years and therefore what we see now maybe little closer to more normalcy than the euphoria that we has seen particularly in housing, a few years ago.