Monday, November 25, 2013

Roubini : QE tapering to have positive impact on S. Korea

SEOUL, Nov. 4 (Xinhua) -- Future tapering of the U.S. quantitative easing (QE) would influence the South Korean economy positively, a New York University economics professor said Monday.
"QE tapering will be positive to Korea," Nouriel Roubini said in Seoul at a meeting with South Korean Finance Minister Hyun Oh- seok, noting that the QE tapering would mean a recovery of the U.S. economy, on which South Korea heavily depends for trade, according to the Finance Ministry.
Interest rate hikes in the U.S. would lead to strong U.S. dollar, having a positive impact on exports, which account for around half of the South Korean economy, said Roubini who served as a senior economist in the White House Council of Economic Advisers during the Clinton administration. He earned a nickname of "Dr. Doom" due to his consistently bearish economic views.
Roubini said that South Korea held positive position in terms of fiscal balance and sovereign debts, assessing that the April supplementary budget was appropriate and contributed to the country's recovery.

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Nouriel Roubini
Nouriel Roubini

Nouriel Roubini is an American professor of Economics at New York University`s Stern School of Business and chairman of RGE Roubini Global Economics
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