Once again this week, business headlines have been dominated by speculation about the state of the world economy.

With the US Federal Reserve raising its forecasts for domestic growth in the coming months and betting on a recovery coming as early as the second half of the year, Goldman Sachs surprising the world of finance by setting Record profits just as most banks are just beginning to emerge from the credit crisis... And now strong signs from China as well with a growth rate back towards the double digits.

After the dreaded R word of Recession, is the world now headed for the sweeter "R" word for recovery ?

Rapahel Kahane met Eric Chaney, Chief Economist at Axa Group.