Monday, September 27, 2010

Latest Roubini on Prospects for the U.S., Japan, China, and Emerging Markets

In his latest interview, Nouriel Roubini says there’s a high probability of another recession in the U.S..
China: he says that it may face "greater headwinds should there be weak growth in the U.S. and Europe", where he is attending a conference. Second-quarter gross domestic product figures for the U.S. are likely to be revised lower after “awful” June real-estate numbers, he also said.

Japan: outlook is “anemic, underscoring risks to the global recovery".

Roubini warned that the recent austerity measures implemented by several nations to reduve debt are hurting consumer and business confidence. In addition, households in some of the largest economies are holding back spending.
Emerging economies may have to get used to relying on domestic demand in a period of subdued growth for developed countries.

“We know the second half of the year is going to be worse than the first half of the year because of the tailwinds to growth from the fiscal stimulus” “The main scenario is an anemic recovery, but I don’t rule out that a double-dip will occur”.

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