Google Says It Can Weather Economic Slow Down

Google says it will be able to survive any global economic slow down because of its broad base of advertisers.

Eric Schmidt, chief executive, admitted that the credit crunch in financial markets, a long with dipping stock markets was a "very serious issue." "It's too early to say if there's (already) been any specific impact but if there were I don't think it would be much," Schmidt told reporters during a visit to Sydney.

"We believe that if there were (a U.S. recession), we'll be well positioned. We're not particularly dependent on any particular one market. There's not a lot of advertising for any one market over another," he said.

His comments come after the news earlier this month that

Schmidt also said that the growth in Asian markets will benefit the company. "One of the very good sources for Google is the very rapid growth in Asia," he said.