Thursday, January 17, 2013

Roubini : China, could not do anything to stop Investment in the U.S.

Nouriel Roubini : "China can bitch about the U.S. fiscal deficit as much as it wants, but between the two evils of pulling the plug on the financing on theU.S., having a rise of the renminbi and a collapse of the export-led growth and the latter evil of keeping on financing us, then the latter evil is the lesser evil [for China]," he said. "If China shuns the U.S .dollar then every other emerging market says 'Hey, I don't want to let my currency appreciate and lose market share to China' and so they intervene and buy dollar and Treasurys," - in Reuters interview
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