Nouriel Roubini : sooner rather than later, force will have be used to stop Iran

Nouriel Roubini : Iran, with its back to the wall as sanctions bite harder (especially the recent SWIFT and central bank restrictions, and Europe’s decision to stop importing Iranian oil), could react by increasing tensions in the Gulf. Eventually, it could easily sink a few ships to block the Strait of Hormuz, or unleash its proxies in the region, which include pro-Iranian Shia forces in Iraq, Bahrain, Kuwait, and Saudi Arabia, Hezbollah in Lebanon, and Hamas and Islamic Jihad in Gaza. Recent attacks on Israeli embassies around the world appear to signal Iran’s reaction to the covert war being waged against it, and to the tightened sanctions, which are aggravating the effects of the regime’s economic mismanagement. Likewise, the recent escalation in cross-border fighting between Israel and Gaza-based Palestinian militants could be a sign of things to come. The next few weeks could bring a reduction in tensions, as the US, France, Germany, the United Kingdom, China, and Russia go through another round of attempts to prevent Iran from developing nuclear weapons or the capacity to produce them. But if this attempt fails, as is likely, one cannot rule out that, by summer, Israel and the US agree that, sooner rather than later, force will have be used to stop Iran. - in project-syndicate

Nouriel Roubini : geopolitical shock in the Middle East could cause a global recession

Nouriel Roubini : The last three global recessions (prior to 2008) were each caused by a geopolitical shock in the Middle East that led to a sharp spike in oil prices. The 1973 Yom Kippur War between Israel and the Arab states led to global stagflation (recession and inflation) in 1974-1975. The Iranian revolution in 1979 led to global stagflation in 1980-1982. And Iraq’s invasion of Kuwait in the summer of 1990 led to the global recession of 1990-1991. Even the recent global recession, though triggered by a financial crisis, was exacerbated by spiking oil prices in 2008. With the barrel price reaching $145 in July of that year, oil-importing advanced economies and emerging markets alike faced a recessionary tipping point.
The risk that Israel’s threat to attack Iran’s nuclear installations will, in fact, lead to an outright military conflict may still be low, but it is growing. Israeli Prime Minister Binyamin Netanyahu’s recent visit to the US demonstrated that Israel’s fuse is much shorter than the Americans’. The current war of words is escalating, as is the covert war that Israel and the US are allegedly engaging in with Iran (including killings of nuclear scientists and use of cyber-warfare to damage nuclear facilities). - in project-syndicate

Roubini : The fear premium might push oil prices significantly higher and could trigger a global recession

Nouriel Roubini : Today’s fragile global economy faces many risks: the risk of another flare-up of the eurozone crisis; the risk of a worse-than-expected slowdown in China; and the risk that economic recovery in the United States will fizzle (yet again). But no risk is more serious than that posed by a further spike in oil prices.The price of a barrel of Brent crude, which was well below $100 in 2011, recently peaked at $125. Gasoline prices in the US are approaching $4 a gallon, a damaging threshold for consumer confidence, and will increase further during the high-demand summer season. The reason is fear. Not only are oil supplies plentiful, but demand in the US and Europe has been lower, owing to decreasing car use in the last few years and weak or negative GDP growth in the US and the eurozone. Simply put, increasing worry about a military conflict between Israel and Iran has created a “fear premium.” The last three global recessions (prior to 2008) were each caused by a geopolitical shock in the Middle East that led to a sharp spike in oil prices. The 1973 Yom Kippur War between Israel and the Arab states led to global stagflation (recession and inflation) in 1974-1975. The Iranian revolution in 1979 led to global stagflation in 1980-1982. And Iraq’s invasion of Kuwait in the summer of 1990 led to the global recession of 1990-1991. - in project-syndicate

Roubini : Israel attack on Iran and the gas prices

Nouriel Roubini : I'm not the geopolitical expert and I will let Ian and others figure out the probability of an attack on Iran this year before the U.S. election or after the election -- or of an Israeli attack alone. Whether it's 20 percent, or 30 or 50 -- I think that view will change over time. But it's likely that the second quarter of 2012 is going to be the period when final round of giving a chance to diplomacy is going to be attempted. If that fails, maybe at that point both the U.S. and Israel are going to say, "Unless you back down, we may eventually attack you." So you have to time how much these things are going to affect markets. But even without an attack outright, there's a war of words between the U.S., Israel, and Iran, and this war of words has been escalating. There is also a covert war, because Israel and the U.S. allegedly have been killing some of the scientists, engaging in sabotage through cyberwarfare, and now Iran is reacting. They've tried to kill a bunch of Israeli diplomats around the world and, if sanctions become more binding, they could start making noises about other threats. Brent [Crude] that used to be $90 per barrel is already in the $120-125 range. But if that war of words and covert war escalates, there's a possibility that -- even short of a military confrontation -- oil prices could become high enough that it becomes material for the economy. I would not underestimate the effect of gasoline today, in a number of U.S. states, being already at $4.00 a gallon -- and it could be so in many other states. Psychologically, once you're above the $4 mark, it has an impact on consumer confidence. And in the summer, prices tend to go up another 20 or 30 cents. The higher those oil prices are, the higher the chance that has a negative effect on consumer confidence, on disposable income, and on the economy. And it's not just in the U.S. -- the price of oil is very high in Europe and in many other parts of the world. So I would let other people assess the risk of a conflict, but confidently I see oil prices from here going higher, rather than lower. The one thing I worry about more than the eurozone is oil. - in foreignpolicy.com

Nouriel Roubini : The biggest strategic threat to Russia is China

Nouriel Roubini : On Russia, Ian, you're right that Russia and China may get closer to each other, but I think the biggest strategic threat to Russia is China. You've got a land mass in Siberia that is as big as the United States, where there are barely 15 million people, and there are millions of Chinese now moving across the border of Mongolia -- buying land, starting to produce. As you know, possession is nine-tenths the law. So strategically, at some point, Russia's going to realize that the only one who can defend them from losing Siberia is the United States and Europe. So I don't understand the logic of their views. They'll be better off being friends with the U.S. and Europe than with China.- in foreignpolicy

Roubini : Russia Oil and Economic Growth

Nouriel Roubini : Russia used to grow at 8 percent a year between 1998 and 2008. Then the global financial crisis happened and there was a contraction, but since then their economic record has been between 3.5 to 4 percent -- even with oil prices going from $30 a barrel in 2009 to well above $100 now. And the problem with Russia is that unless you do structural reforms by reducing the role of the government in the economy and state-owned enterprises, and developing the private sector more -- unless you do a variety of market-oriented structural reforms -- the potential growth rate of Russia may not be much higher than 4 percent. And in an economy where there's a huge amount of rent extraction occurring because of an excessive reliance on oil, energy, and raw material, and as long as those prices are high, the incentive to do reforms is going to be limited. Yes, now there's a movement especially in Moscow and in the middle classes that is resisting him. But Putin won. We'll see how much that is a reflection of the majority vote as opposed to ballot rigging. He may be slightly weakened compared to what he was a year ago, and he might be nudging a little more to the center and offering slightly more reforms than he would have otherwise done, but in my view reforms in Russia are going to occur at a mediocre, suboptimal pace relative to what's desirable. They'll be cosmetic rather than radical. - in foreignpolicy.com

Black Swan, Nassim Taleb Supporting Ron Paul

Black Swan,Nassim Taleb Supporting Dr.Ron Paul ."The only candidate I trust is Ron Paul," says Nassim Taleb, "The Black Swan" author. He also shares what he fears will be the next "black swan" event for the U.S. economy.

Nassim Taleb : " I watched the election and something wrong is going on. only one candidate Ron Paul seems to have grasped the issues and is offering the right remedies for the central problems we facing. so i came out just to support -- I'm not involved in politics. I'm a risk based person. but from my risk base vantage point i think one candidate represents the right policies when it comes to the big four, and that candidate is Ron Paul. what are the big four? the first one is deficits. of course, governments self-feeding bureaucratically. second one is the fed. he's going after the fed. the only one with the guts to do it. the third one is militarism. i like defense but not defense because it becomes self-feeding again. and the fourth one is that notion that America, that central notion that America is about is about resilience. and you don't achieve that through bailouts. you need the economy to stay vital and you need a certain rate of failure"

Nouriel Roubini on Merrill Lynch recent good economic data

Nouriel Roubini ‏: "Merrill Lynch : recent good economic data depends on 3 factors: weather, delay in foreclosure process & lagged impact of lower gasoline prices" "
"Those 3 positive factors are temporary as weather effect on jobs will fade out in spring, foreclosures will increase & oil price is rising" - in a twitter message

ROUBINI: An Attack On Iran Could Cause Oil To Spike To $200

Nouriel Roubini : The worse-case scenario is a protracted conflict. If there's an effect on the supply of oil and gas from the Gulf, and production and exports from Iran go for a while to zero, oil could go to $170,$180, $200 a barrel. Then, the question is how long it remains there. Of course, there are now discussions in Washington on how to respond. The amount of oil in the Strategic Petroleum Reserve is finite, but if you're not going to use it in this situation, when else are you going to use it? The reality is that if you think about the last three major global recessions, there were all caused by a geopolitical shock in the Middle East that led to spike in oil prices. The Yom Kippur War in 1973 led to the global recession from 1974 to 1979; the Iranian revolution in 1979 led to spike in oil prices and the 1980-1982 recession; and even in 1990, the Iraqi invasion of Kuwait brought a temporary spike in oil prices that led, among other factors, to a U.S. and global recession. So if the conflict is severe and protracted and the increase in oil prices in significant, I would say we're talking about not just a U.S. recession but a global recession. And this time around, we're also coming out of a global financial crisis where now we have a huge amount of private and public debt in many advanced economies, like we did not have in 1973 or 1979 or 1990. So the global economy could not take a kind of protracted oil shock coming at a time where there's already a painful process of deleveraging, with fragility in the balance sheets of governments and the private sector as well.
said Nouriel Roubini with his frequent partner Ian Bremmer in an interview with Foreign Policy

Roubini : Portugal to Fall, Greece to Leave Euro Zone this year

Portugal is likely to be the next to restructure its debt and exit the euro zone, economist Nouriel Roubini said on CNBC yesterday Friday 9th March 2012 , Portugal being the most at risk amongst the PIIGs nations , Greece is still insolvent Roubini said "Greece will be the first country to exit the euro zone, not this year, maybe later next year." he explained

US exports to weaken because of strong Dollar

Nouriel Roubini : while US data have been surprisingly encouraging, America’s growth momentum appears to be peaking. Fiscal tightening will escalate in 2012 and 2013, contributing to a slowdown, as will the expiration of tax benefits that boosted capital spending in 2011. Moreover, given continuing malaise in credit and housing markets, private consumption will remain subdued; indeed, two percentage points of the 2.8% expansion in the last quarter of 2011 reflected rising inventories rather than final sales. And, as for external demand, the generally strong dollar, together with the global and eurozone slowdown, will weaken US exports, while still-elevated oil prices will increase the energy import bill, further impeding growth. - in project syndicate

Roubini : Greece private creditors got a very sweet

Greece's private creditors got a very sweet deal they should stop complaining wrote Dr Nouriel Roubini today in the Financial Times “The reality is that private creditors got a very sweet deal, while most actual and future losses have been transferred to the official creditors,” Roubini wrote.“The official sector began restructuring its claims well before the private sector creditors. Maturities were lengthened and the interest rate on those loans reduced, repeatedly,” he wrote.“They should stop complaining. They will take some losses but those losses are limited. Indeed, the fact that the new bonds are expected to be worth more than the old bonds suggests that this PSI exercise has further transferred losses to official creditors,” he wrote. - via CNBC

Biggest Risk to the Global Economy is a war with Iran

Nouriel Roubini : "Biggest tail risk to the global economy now is a military conflict between Israel and Iran that sharply spikes oil prices" in a twitter message

China Growth Forecast for 2012

" China's new official growth forecast for 2012 - 7.5% - matches RGE's below consensus forecast of 7.4%. We'll update ours based on data flow " says Nouriel Roubini today in a twitter message

Roubini : Fiscal austerity pushing the Eurozone periphery into economic free-fall

Nouriel Roubini : ....Meanwhile, not only is fiscal austerity pushing the Eurozone periphery into economic free-fall, but the loss of competitiveness there will persist as relief at the waning prospect of disorderly defaults strengthens the euro's value. To restore competitiveness and growth in these countries, the euro needs to fall towards parity with the US dollar. And, while the risk of a disorderly Greek collapse is now receding, it will re-emerge this year as political instability, civil unrest, and more fiscal austerity turn the Greek recession into a depression.

China and Asia in Recession

Nouriel Roubini : ....Elsewhere in Asia, Singapore's economy shrank for the second time in three quarters at the end of 2011. India's government predicts 6.9 per cent annual GDP growth in 2012, which would be the lowest rate since 2009. Taiwan's economy fell into a technical recession in the fourth quarter of 2011. South Korea's economy grew at a mere 0.4 per cent in the same period - the slowest pace in two years - while Japan's GDP contracted at a larger-than-expected 2.3 per cent, as the yen's strength weighed down exports. - in Project Syndicate

Roubini : US growth slower despite better initial claims

Nouriel Roubini : Consumption flat, ISM down, construction spending down, durable goods order/capex down. Apart from better initial claims US growth is slower - in a twitter message

Q1 growth could be very weak in America

Nouriel Roubini : " Real consumption spending has been flat for 3 months now including January while capex spending fell. So Q1 U.S. growth could be very weak " Roubini said in a twitter message

Next big financial crisis will be made in China

Nouriel Roubini :......there is now evidence of weakening performance in China and the rest of Asia. In China, the economic slowdown under way is unmistakable. Export growth is down sharply, turning negative vis-à-vis the Eurozone's periphery. Import growth, a sign of future exports, has also fallen. ....- in project syndicate

Roubini : The Eurozone is in deep recession

Nouriel Roubini : ....the Eurozone is in deep recession, especially in the periphery, but now also in the core economies, as the latest data show an output contraction in Germany and France. The credit crunch in the banking system is becoming more severe as banks deleverage by selling assets and rationing credit, exacerbating the downturn. Meanwhile, not only is fiscal austerity pushing the Eurozone periphery into economic free-fall, but the loss of competitiveness there will persist as relief at the waning prospect of disorderly defaults strengthens the euro's value. To restore competitiveness and growth in these countries, the euro needs to fall towards parity with the US dollar. And, while the risk of a disorderly Greek collapse is now receding, it will re-emerge this year as political instability, civil unrest, and more fiscal austerity turn the Greek recession into a depression. - in project syndicate

Roubini : Greece to leave the Euro next year

Nouriel Roubini : Greece is likely to leave the euro and adopt its own currency next year to improve competitiveness and foreign trade, as it must achieve economic growth to resolve its sovereign debt burden " Roubini told the Greek paper Kathimerini as reported by Bloomberg

Roubini :The Chinese residential investment and commercial real-estate activity are slowing sharply

Nouriel Roubini :."....Chinese residential investment and commercial real-estate activity are slowing sharply as home prices start to fall. Infrastructure investment is down as well, with many high-speed railway projects on hold and local governments and special-purpose vehicles struggling to obtain financing amid tightening credit conditions and lower revenues from land sales. .." - in Project syndicate

Roubini : Fiscal tightening will escalate in 2012 and 2013

Nouriel Roubini : ....while US data have been surprisingly encouraging, America's growth momentum appears to be peaking. Fiscal tightening will escalate in 2012 and 2013, contributing to a slowdown, as will the expiration of tax benefits that boosted capital spending in 2011. Moreover, given continuing malaise in credit and housing markets, private consumption will remain subdued; indeed, 2 percentage points of the 2.8 per cent expansion in the last quarter of 2011 reflected rising inventories rather than final sales. And, as for external demand, the generally strong dollar, together with the global and Eurozone slowdown, will weaken US exports, while still-elevated oil prices will increase the energy import bill, further impeding growth. - in project syndicate

Roubini : Surging oil prices are a serious threat to global economic growth

Nouriel Roubini : "Surging oil prices are a serious threat to global economic growth " via twitter message "....there are many things that could go wrong in the Middle East, any combination of which might stoke fear in markets and lead to much higher oil prices. Despite weak economic growth in advanced economies and a slowdown in many emerging markets, oil is already at around $100 per barrel. But the fear premium could push it significantly higher, with predictably negative effects on the global economy." in project syndicate

Roubini : Geopolitical risks in the Middle East are rising

Nouriel Roubini : .....geopolitical risks in the Middle East are rising, owing to the possibility of an Israeli military response to Iran's nuclear ambitions. While the risk of armed conflict remains low, the current war of words is escalating, as is the covert war in which Israel and the US are engaged with Iran; and now Iran is lashing back with terrorist attacks against Israeli diplomats. The Islamic Republic, with its back to the wall as sanctions bite, could also react by sinking a few ships to block the Strait of Hormuz, or by unleashing its proxies in the region. - in project syndicate

Roubini: Greece from Recession to Depression

Nouriel Roubini : "Based on meetings in Athens most Greeks desperately want to keep the Euro. But the economy is spinning from a recession into a depression" Roubini said in a recent twitter message from Athens in Greece where he is attending the Intelligence Squared/BBC debate on whether Greece should exit the eurozone “Even after the restructuring of Greece’s debt agreed to today, the country won’t have growth, and it’s easier to do structural reforms with growth.” roubini explained during a conference broadcast live on Skai.gr in Athens Tuesday (as reported by Bloomberg)

Roubini in Athens for the Intelligence Squared BBC debate

Nouriel Roubini : "I am on my way to Athens for the Intelligence Squared/BBC debate on whether Greece should exit the eurozone. I will also have other meetings" he wrote in a recent twitter message

Roubini : fear premium could push Oil prices way beyond the $100 a barrel

Nouriel Roubini : "....Beyond the countries affected by the Arab Spring, rising tensions between Shia, Kurdish, and Sunni factions in Iraq since the US withdrawal do not bode well for a boost in oil production. There is also the ongoing conflict between the Israelis and the Palestinians, as well as strains between Israel and Turkey. In other words, there are many things that could go wrong in the Middle East, any combination of which might stoke fear in markets and lead to much higher oil prices. Despite weak economic growth in advanced economies and a slowdown in many emerging markets, oil is already at around $100 per barrel. But the fear premium could push it significantly higher, with predictably negative effects on the global economy. - in Project Syndicate

Roubini : The Eurozone is in deep recession

Nouriel Roubini : First, the eurozone is in deep recession, especially in the periphery, but now also in the core economies, as the latest data show an output contraction in Germany and France. The credit crunch in the banking system is becoming more severe as banks deleverage by selling assets and rationing credit, exacerbating the downturn. Meanwhile, not only is fiscal austerity pushing the eurozone periphery into economic free-fall, but the loss of competitiveness there will persist as relief at the waning prospect of disorderly defaults strengthens the euro’s value. To restore competitiveness and growth in these countries, the euro needs to fall toward parity with the U.S. dollar. And, while the risk of a disorderly Greek collapse is now receding, it will re-emerge this year as political instability, civil unrest, and more fiscal austerity turn the Greek recession into a depression. - in Project Syndicate

Roubini : US economic Data points partly misleading

Bloomberg UTV Special: Nouriel Roubini to talk about the World Economy View the global macro economics . Nouriel Roubini says there is broader weakness in most developed economies

Roubini : The Geopolitical risks in the Middle East are rising

Nouriel Roubini : Finally, geopolitical risks in the Middle East are rising, owing to the possibility of an Israeli military response to Iran’s nuclear ambitions. While the risk of armed conflict remains low, the current war of words is escalating, as is the covert war in which Israel and the US are engaged with Iran; and now Iran is lashing back with terrorist attacks against Israeli diplomats. The Islamic Republic, with its back to the wall as sanctions bite, could also react by sinking a few ships to block the Strait of Hormuz, or by unleashing its proxies in the region – the pro-Iranian Shia in Iraq, Bahrain, Kuwait, and Saudi Arabia, as well as Hezbollah in Lebanon and Hamas in Gaza. - in Project-syndicate

Roubini still gloomy about The Global Economy

Nouriel Roubini : “First, the eurozone is in deep recession, especially in the periphery, but now also in the core economies, as the latest data show an output contraction in Germany and France… Second, there is now evidence of weakening performance in China and the rest of Asia… Third, while US data have been surprisingly encouraging, America’s growth momentum appears to be peaking. Fiscal tightening will escalate in 2012 and 2013, contributing to a slowdown, as will the expiration of tax benefits that boosted capital spending in 2011… Finally, geopolitical risks in the Middle East are rising, owing to the possibility of an Israeli military response to Iran’s nuclear ambitions.” - in project-syndicate

Nouriel Roubini : Mexico doing well

Nouriel Roubini : "Mexico doing well: low debt, low deficit, low inflation, good growth. Emerging markets in much better shape than most advanced economies,"

Roubini : signs of an Economic slowdown in Brazil

Nouriel Roubini "I am in Rio for policy & business meetings. Interesting times in Brazil as there are signs of an economic slowdown as global tail risks loom" via twitter

Nouriel Roubini to attend Intelligence Squared event in Greece

Nouriel Roubini to attend the debate in next Intelligence Squared event that will take place in Athens Greece on February 21st 2012 under the title "Greece Should default on its debt and leave the Euro"

Roubini on The Glencore-Xstrata merger deal

Nouriel Roubini :"An already oligopolistic & highly concentrated industry (mining/resources) will become even less competitive with the Glencore-Xstrata deal" said Professor Nouriel Roubini in a twitter message regarding the Glencore-Xstrata merger deal , The commodities and mining companies have agreed to a $41 billion all-share merger that would see the biggest ever deal in the mining sector , shareholders have expressed their opposition to the deal and have said that they will vote against it

Roubini : Greece is still insolvent

Nouriel Roubini : "Even with the PSI deal & a 2nd bailout Greece's debt will be close to 150% of GDP & fall to 120%, a level still of insolvency, only by 2020" Roubini wrote in a recent twitter message ....

Roubini : an ECB rate cut today would be warranted

Nouriel Roubini wrote today in a twitter message : "ECB refi rate back to its 1% level before the mistaken 2011 rate hike. Given the severe EZ recession a rate cut today would be warranted"

Nouriel Roubini interview on China Slowdown

Nouriel Roubini and Patrick Chovanec on China: How Much Stress Can the System Take? Nouriel Roubini interviewes Patrick Chovanec, associate professor at Tsinghua University's School of Economics and Management in Beijing, China about where he sees the chinese economy going from here are we going to have a soft or a hard landing , can the internal demand replace the decreasing demand for the Chinese products from the depressed economies in the west ?

Roubini : Hard Landing in China ?

Nouriel Roubini : "China's electricity consumption fell by 7.5% in Jan, a signal that industrial production may have sharply slowed. A sign of hard landing? " Roubini wrote in a recent twitter message ....

Nouriel Roubini speaking at CHOGM in Perth Australia

CHOGM: Nouriel Roubini, NYU Stern School of Business .James Kirby talks to economist Nouriel Roubini from New York University's Stern School of Business at CHOGM ( the Commonwealth Heads of Government Meeting) in Perth.

Roubini : A Macro global view is critical

Nouriel Roubini : “Anybody who does any asset management needs to know and understand the macro and top-down – the linkages across countries and not just individual countries. You need to know what happens in Greece can affect the global economy and financial market. I think a macro global view is critical [for hedge funds].” - in investmenteurope.net

U-shaped recovery rather than a typical V

Nouriel Roubini : "Once you have too much debt in the public and private sector, the painful process could last up to a decade, where economic growth remains weak and anemic and sub-par until we have cleaned up the balance sheet and invested in the things that make us more productive for the future," - in Davos

Roubini : we should invest in human capital, our structure, our technology, our innovation

Nouriel Roubini : "We have to shift our investment from things that are less productive like the financial sector and housing and real estate to things that are more productive like our people, our human capital, our structure, our technology, our innovation," - in Davos

Roubini back to NYC from Moscow

Nouriel Roubini : "Finally back to NYC after two busy weeks of work/meetings/talks in Europe: London, Zurich, Davos/WEF, Frankfurt, Cologne, Berlin, Moscow." he wrote in a twitter message for his followers today

Nassim Taleb endorses Ron Paul but...

Nassim Taleb : "the only candidate I trust is Ron Paul." he wrote in his facebook page "I do not wish to be dragged into politics beyond my statement of trusting one, and only one candidate in this primary. Conversation ended," he added.

Roubini : the middle class is tired of corruption, authoritarianism and lack of reforms

Nouriel Roubini :" First large scale opposition demonstrations today in Moscow: the middle class is tired of corruption, authoritarianism and lack of reforms "Nouriel Roubini wrote in a twitter message live from moscow where he is actually to attend the Russia Forum of the Troika Dialogue .

Roubini : The ECB will not accept OSI to match PSI

Nouriel Roubini : "ECB will not accept OSI (loss on its holdings of Greek debt) to match PSI as that would lead to inability to continue SMP to backstop PIIGS" Nouriel wrote in a twitter message today

Roubini : Russia Needs Restructuring to Boost Growth

Russia's economic growth will slow to a snail's pace in coming years without serious structural reforms ,said Nouriel Roubini in Moscow on Thursday where he is to attend the Russia Forum of the Troika Dialogue . "I said: Russia's potential growth is 4%, not 0.5% "Russia Needs Restructuring to Boost Growth" Nouriel Roubini explained in a related twitter message

Roubini : China will have a significant slowdown this year

Nouriel Roubini : “In the UK there is recession, even the US is not doing great, in India there’s a slowdown and they’re worried about that. In China, exports, infrastructure investment, real estate is slowing down, so there’ll be a significant slowdown in China this year,”