2min chapter

GZERO World with Ian Bremmer cover image

Fix the global debt crisis before it's too late, warns World Bank's David Malpass

GZERO World with Ian Bremmer

CHAPTER

The Importance of Global Markets in Economic Transformation

India is just one step away from that and they could achieve that. And so think of India went through the same kind of transformation that China did. Look at in Latin America after decades of debt crisis. They were able to transform. It didn't last very long, but for a period of years,. global markets really came into Latin America and modernized it. The US doesn't have a similar policy of stability for its currency. So investors gravitate toward that and it started right away in China.

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