Hopeful signs of growth

With the latest US jobless rate dropping to a 44-month low and the eurozone set to get its 500 billion euro ($652 billion) rescue fund soon, China's tourist boom in the just-ended weeklong holiday should surely also have helped alleviate worries over the prospects for global growth.

Though the global recovery has so far largely been affected by the European debt crisis and the weak US recovery, fears that the Chinese slowdown might prove greater than anticipated have made international investors nervous recently.

Admittedly, it is too early to tell if the 7.8 percent unemployment rate in September is good enough to improve the overall US job market picture or if the formal launch of the European Stability Mechanism can prevent the eurozone debt crisis from worsening.