Nouriel Roubini is an India optimist. The country may have spent years lagging behind fast-growing Asian neighbors, such as China, but the NYU professor and chairman of Roubini Global Economics sees a role switch ahead, he told Bloomberg Television today.
Economic growth in China, weighed down by an aging population and an obsolete investment-driven economic model, is going to fall to 6.5 percent next year and will drop below 6 percent in 2016, “while in India, with the right reforms, it could go to 7 percent,” he said. “So for the first time ever the tortoise becomes the hare and the hare becomes the tortoise.”
China’s leaders know the problems they face, according to Roubini, who is visiting Hong Kong for a Barclays-sponsored conference, but so far they have been reluctant to follow through on promises to address them. “The Chinese understand their growth model is unsustainable—too much fixed investment, not enough consumption,” Roubini said.
via China vs. India? It’s India by a Nose, Roubini Says – Businessweek.
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