financial illetracy or enlightened confidence ?

New Delhi: According to a global survey on consumer confidence levels, spending and attitudes to recession, Indians have the second most optimistic attitude on the current world financial crisis after Norway.
Conducted by The Nielsen Company in 52 countries, the survey revealed that one in two Indians, 45 per cent of Vietnamese and approximately a third of Russians and Chinese expect the global recession to end within a year. The survey adds that in India, employment rates will rise in inverse proportion to the developed world, aided by the adoption of workforce optimisation.
The Nielsen Consumer Confidence Index ranked UAE fifth, and according to Piyush Mathur, regional managing director, West Asia, North Africa and Pakistan, The Nielsen Company, "Despite being affected by the current global conditions, consumers in the UAE and other developing markets are aware their medium-to-long-term prospects remain strong."
Many countries experienced double-digit declines in consumer confidence in the last year including the US, the UK, Hong Kong, Japan, Singapore and Malaysia.