Sunday, July 04, 2010

Goldman Sachs Chief Economist Warns That China's Economic Troubles Could Lead to Another Global Slowdown

I don't like Goldman Sachs, because the company seems to be the funding engine for every organization or event that I write against on this blog. Goldman sold more than 40% of its BP shares weeks before the Deepwater Horizon disaster. Goldman executives hold key positions in President Obama's White House, including the Secretary of the Treasury. Nevertheless, because the company has so much influence and control in the government and financial markets, when the company makes a public statement, it must be taken seriously.

Therefore, I am posting this article where Goldman Sachs' chief economist raises the fears for another worldwide economic slowdown.


Writing in The Sunday Telegraph, Mr O'Neill, head of global economic research at Goldman, said: "What is clear is that a persistently struggling US, in addition to a major disappointment in China, would not be good news for the rest of us."

"What adds to the reality of this situation is that there appears to be growing evidence that China is slowing down."


See also: Goldman Sachs Jim O'Neill Says Watch China & United States "Like a Hawk"

Source: London Telegraph



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