« They have three and a half times more banking leverage than we did going into the crisis, and they’ve only been at this banking thing for a couple of decades. »
« The basic architecture of the Chinese economy is broken. »
Another expert also warned recently that China’s economy may now not overtake the US until 2080, and even then it is not an « inevitability » that the US will be superseded.
Nathan Sheets, global chief economist at Citi and a former US Treasury official in the Obama administration, said it is “plausible” that it could take as long as “until 2080” for China to overtake the US
He added: “We now believe that Chinese overtaking is ‘likely’ but we no longer see it as ‘inevitable’.”
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