Sunday, January 9, 2011

Nouriel Roubini : You cannot resolve problems of global imbalance without having India and China on board

Nouriel Roubini :..."...I believe, on one side, it is necessary because the global economic and financial problems require a systemically important emerging market economies to be on the table.You cannot resolve problems of global imbalance , energy security, financial stability and climate change without having countries like India and China and many other emerging markets on board. In that sense, G7 was obsolete. But in other sense, it is much difficult to reach an agreement with 20 countries on the table and therefore, agreements were only in the time of crisis. But now there is wide divergence of views on a wide spectrum of issues. ..."

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