Google CEO: The worst of the crisis is over

"Sina Financial News" Beijing time in the early hours of June 27, according to foreign media reports, Google CEO Eric Schmidt said in Friday, the U.S. economy is likely to start this autumn recovery, the worst of the economic crisis has passed, "there is reason to be optimistic about 2010."

In the Kang City Golden Lion International Advertising festival, Mr. Schmidt said the number of U.S. jobless claims suggests the economy is "starting to bottom". "While the absolute number of applicants for unemployment benefits is growing, the pace of growth is slowing," he explains. ”

Mr. Schmidt said he did not want to comment on a previous report that said Google had set up an engineering team to study the technical specifications of Microsoft's Bing search. But he added: "Bing search is Google's competitor, and we've really been looking at it." Just as Microsoft has been studying what Google does, we've been working on Microsoft. ”

Since Microsoft's recent launch of Bing search engine, the U.S. market share of the engine has been rising, but still lag behind Google and Yahoo. Microsoft will launch Bing search on the UK market this fall.

Mr. Schmidt also said he welcomed Microsoft's launch of Bing search engine because competitors ' frequent access to the market had benefited Google from it.

The engine has reached 12.1% per cent of the U.S. market as of June 12, according to comscore, a market research firm, since Microsoft announced May 28 and officially launched its Bing search engine in the week after. Bing's search engine is the latest step in Microsoft's competition with Google, which has the world's most popular search engine.

Schmidt said he "encouraged" Microsoft to make efforts in the search system.

Mr Schmidt said Google should have entered the Chinese market earlier. He also predicts that many powerful new handsets will emerge "explosively" this year, and that Google's YouTube site will bring "significant revenue".