Are we out of the woods?

In Johore Baru recently, I turned on the TV and watch a business program on one of the channel. A guest speaker was asked the question, is the economy well on the road to recovery? His answer was in the negative. The banks are still facing money woes, big corporations are still struggling to survive and America is still finding its feet. Only China is recovering but China is only 6 % of the world economy! No... not yet, he said. There's still some way to go.