
Credit | Economics & Growth | Emerging Markets
Credit | Economics & Growth | Emerging Markets
Kenneth Rogoff thinks that it was an appropriate move to increase debts levels to sustain the economy during the pandemic. He does not see the global economy back to the 2019 levels for at least the next five years. Goldman Sachs’ Jan Hatzius agrees and does not see debt crisis brewing in the US, UK or Japan either.
Rogoff thinks the markets are wrong in not seeing the US inflation or interest rates higher in 5 years but agrees the pandemic shock will be deflationary in the short run
He states a possibility that China can only grow 3% pa for the next decade and predicts many frontier and EMs may default.
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