Roubini`s Comments on The Economy And Market Developments - Unofficial Blog
Jan 17, 2011
China Needs To Radically Change Its Broken Growth Model.
"Clearly China needs to radically change its broken growth model in the direction of reduced exports, investment and savings, and increased consumption. But there are structural—and cultural—reasons why the Chinese save so much and consume so little. Radical policy reforms may take more than a generation to rebalance the Chinese economy toward a more sustainable growth model." - in www.newsweek.com