The United States will soon find out whether President Barack Obama, who marks his first 100 days in office this week, can herald a new era in US politics and economic reform.
With the global financial crisis having its roots in the US housing market meltdown and the subsequent collapse of its banking system, there is no doubt the country faces a mammoth task in rebuilding itself.
China and India have been touted as the next big economic superpowers, but as Suter noted, the US could not be written off too quickly.
"Obama's adopted city of Chicago has reinvented itself from a rust-bucket location to an outward-looking city. It is now the fifth largest inter-modal port in the world. Obama has seen what can be achieved through reinvention," he said.
MLC investment strategist Brian Parker said the dynamism and flexibility of the US system should never be underestimated.
"It may not be perfect, but when faced with a challenge the US system responds far more rapidly then the Japanese or European system. When they need to change, American businesses do it fast," Parker said.
"We have seen sharp falls in employment and production and this part of the US system responding very quickly. And what this means is because the US is able to take its medicine early, America will most likely be the first out in a downturn."
Suter and Parker see opportunity in the country's current crisis.
For Suter, a crisis is a terrible thing to waste.
Former president George W Bush could have used 9/11 for more positive purposes instead of promoting the politics of fear, he said.
"Americans could have moved off their addiction to oil and develop alternative energy sources, however, the current financial crisis could be used to green the US," he said.
Suter is already predicting an increase in the development of solar energy and 'green collar' jobs, particularly as Obama has announced further economic support in the area of climate change.
For Parker, the crisis could spur a rethink in even traditional US industries such as the auto sector.
"If you look at history, a crisis tends to create opportunity. We will most likely see rapid change in the US auto industry," he said.
"Global businesses like General Motors and Chrysler will survive as vastly different beasts to the companies they were."
There is even hope for the US banking system despite it now being effectively nationalised.
But for US banks, reinvention is pivotal if the sector is to survive.
"The starting point from where we came is not where we are going back to. US banks will have to adopt a stringent approach to capital," PIMCO portfolio manager Rob Mead said.
Mead said the operation of the banking system could revert to how it was operated during the Great Depression under the Glass-Steagall Act.
That legislation was passed in 1933 in reaction to the collapse of America's commercial banking system. The act separated commercial and investment banking.
Mead said a split could again occur in the system.
"Investment banking will always have some role, but not necessarily in the same institutions that also operate home loans," he said.
He said he also believed the US still had an important role to play in the growth of China.
"While some may have hoped that China would be immune from the slowdown in the US, China is reliant on the US to fund its expansion," he said.
"The US has always been the consumer of last resort. And while the country may not reach its dominance again because of long-term sizeable shifts taking place in the global economy, when the US finally ceases to be a superpower it will not occur in our lifetime."
Nevertheless, one chief economic and military power may not be a feature of a new world order.
"I think it is fair to say that we will see a few power blocks emerging. The days of just one country dominating the economic and geopolitical landscape will probably no longer exist," Parker said.
