. >> koll added that global growth last year was 1.8 to 1.9%.s year it's expected to be between 3 to 3.5%. this is a result of a strengthening global economy and not a weakening one. as for japan's growth, if oil stays at around $120 a barrel or so, koll says its gdp will stay where it is now probably, but at $160 a barrel people may take notice, then we might see japan's gdp fall. as for oil's affect on japan, inflation, koll says that the country actually needs for that to happen. >> japan is a little different because we are in deflation. when prices go from minus one to plus one, that's a good thing. that means a bit of a return to pricing power and from that perspective japan needs to get out of deflation and in increasing the oil price just might be the final push to get us there. >> and a reminder that japan has been mired in deflation for the last ten years. higher oil prices don't herald a financial fallout, neither for japan, china, or for south korea. as long as prices don't go past the 150 to 160 mark. oil did hit an all time record