Three of the world's best firms to buy now

The global economy may be slowly improving, but there are still plenty of challenges ahead for both developed economies and emerging markets. While the macro-economic picture remains uncertain, corporate news is much better, says professional investor Tom Walker. Here, he picks three of the world's best companies to buy into now.

Each week, aprofessional investor tells MoneyWeek where he'd put his money now. This week: Tom Walker, manager, Martin Currie Portfolio Trust.

In Britain, the very modest growth achieved in 2010 came despite a dip in the fourth quarter. High household debt, an overpriced housing market, unfettered inflation and the government's onslaught on the deficit will pose further challenges in 2011. In America, economic growth has beaten expectations, but remains muted compared with previous recoveries. And in Europe the ongoing problems of the peripheral economies continue to overshadow the booming revival in German exports. The economic picture is brighter in developing countries, where growth has been robust. Here, though, the main danger is inflation, with food prices reaching alarming levels in countries such as India and China. Food inflation is a key cause of social unrest in emerging economies and social unrest can lead to regime change, as we've seen in recent weeks.

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