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Friday, June 1, 2012

Roubini: China risks hard landing after 2013

Nouriel Roubini : "There is a meaningful probability of a hard landing in China after 2013,"
"The brand new high-speed train is half-empty and the brand new station is three-quarters empty. Parallel to that train line, there is also a new highway that looked three-quarters empty. Next to the train station is also the new local airport of Shanghai and you can fly to Hangzhou," he said.
"There is no rationale for a country at that level of economic development to have not just duplication but triplication of those infrastructure projects."
“To avoid this fate, China needs to save less, reduce fixed investment, cut net exports as a share of GDP, and boost the share of consumption”, - in morningwhistle
NOURIEL ROUBINI BLOG