After China has tightened lending again, Nouriel Roubini was on CNBC today just putting it all on the table. It's a lot of cold water for those who think the economy will recover nicely.
Some points:
- The question is whether China will have a soft landing or a hard landing. There were two episodes of China tighteninglatelty, in 2004, when there was a soft landing, and in 2007, when there was a hard landing. He thinks this time it will be like 2007.
- The reported 5% GDP growth was due to inventories
- US growth will slow down in 2nd half of the year as stimulus dies down
- Dollar will not weaken much, where is the growth coming from?
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