Roubini was speaking with Bloomberg Television on Friday. He says that if economic data points to weakness and central banks continue to raise interest rates, the second half could lead to a 10% “correction” for stock markets.
- A 10% correction is not “at all out of the question”
- “With (core inflation) in the US, UK, Europe and central banks continuing to rise more one way or another, I would not be surprised during the second half of the year to get a 10% correction in global equity markets.”
In China:
- Growth is now expected to range between 3% and 4%.
- China prioritizes security control over openness and reforms
“…in China, low growth is not structurally cyclical; it is related to population aging, debt and leverage, housing backlog, state capitalism, backlash against the private sector, divergence in the sentiments of households and the private sector, geopolitical depression, and Marxist policies.” Leninism of Xi Jinping and so on.
Xi and Putin