According to the IMF:
If the biggest engine of the global economy revs up faster than expected, that’s great for the global economy, right? Not necessarily, says the International Monetary Fund in its latest update to its flagship report, the World Economic Outlook.
If the U.S. grows a half-percentage point faster than expected, it would force the Federal Reserveto raise interest rates at a quicker clip. That would boost borrowing costs for emerging markets more than many governments and investors planned, raising serious questions about the ability of countries, households and corporations to pay off their debts.
Travel back 17 years to 1997/98. Asia was rescued from the crisis that hit it because US growth was robust at the time!
Bottom Line: If you are in trouble higher US growth will help you out. But if you are not in trouble, slightly higher US growth will surely send you there!
PS I really have to go back to school!