Monday, May 13, 2013

Nouriel Roubini Interview with ET Now Trading Calls 25 April 2013

ET Now Trading Calls 25 April 2013 -  Mr Nouriel Roubini - Roubini Global Economics

India versus China:

Speaking to ET he said, "India has a significant trade imbalance with China in goods especially and that demand can become a problem. India cannot afford to have an early demise of its manufacturing. The risk is that cheap and good quality Chinese goods are going to crowd out Indian manufactured sector."

IT revolution:

He said that India has used the export of Information Technology services to increase trade with many countries. "Absorption and innovation of new technologies play an important role in growth of economy. The digital revolution implies that new technologies can be transferred much faster from country to country," Roubini said.

Since global growth in services can only grow, India, said Prof Roubini, could have a long-term advantage, with services like IT services, financial services, medical or vocational services becoming more tradable. For this, India, he advised, needs to invest in human capital and skills to make sure it keeps its competitive advantage.

Roubini marked out that innovations in IT will boost productivity and will help the global economy. Web 2.0, Web 3.0, cloud computing, automation and social media will help in raising productivity.
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