I was in policy for two years, but I wouldn't want to go back to the policy. My view is that right now is too late. The mistakes were done in the last 10 to 20 years. And at this point, if you fight inflation, you're going to cause a severe recession,. A financial crisis and they're going to feed on each other. China doesn't have enough consumption as a lot of fixed investment was all financed with credit and debt. Now the debt to GDP ratio of China is 330%, only slightly lower than advanced economies. Right now they're trying to control it, but every time the economy slows down because they are worried about leverage, then they reverse themselves
Nouriel Roubini, a.ka. "Dr. Doom," became famous for predicting the 2008 global financial crisis. Now, he is back with another grim forecast, in his new book, "MegaThreats: Ten Dangerous Trends That Imperil Our Future, And How to Survive Them." He and Kara discuss the book, his prediction that we’re headed towards a stagflationary debt crisis, and US-China relations. Dr. Roubini also explains why cryptocurrency is fundamentally flawed (in fact, he thinks it’s less sophisticated than what the Flinstone’s had).
Before the interview, Kara and Nayeema discuss Sheryl Sandberg’s new report, “Women in the Workplace,” a joint venture by her organization, Lean In, and McKinsey & Company. And they talk about China’s president Xi Jinping — who is leaning into a third term as General Secretary of the Chinese Communist Party.
Follow us on Twitter @karaswisher and @nayeema to get the banter in real time!
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