Sunday, October 10, 2010

Roubini : Emerging markets are growing but rest of the world is not

Nouriel Roubini : "Emerging markets are growing but rest of the world—half of euro zone is not growing, it is contracted, the periphery, Japan is on a verge of a double dip, emerging markets are doing well but many of them like China depend on economic growth in West Europe and Japan. Therefore the slowdown of US, Europe and Japan is already leading to an economic slowdown in China and India and even in Brazil and thus they cannot be remained locomotives of global growth, China is not large enough to be the only engine global growth, we need growth in United States, in Europe and Japan that is not occurring."

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