China is BIGGEST threat to world economy and WILL crash soon, Harvard professor warns
CHINA’S debt bubble and slowing economy is a huge risk to the rest of the world’s financial systems, according to a terrifying warning from a professor of economics at Harvard University.
By LANA CLEMENTS
Express.co.uk
Mon, Sep 26, 2016
In a series of chilling comments, former International Monetary Fund (IMF) economist Kenneth Rogoff aired his fears of a repeat on last summer’s worldwide market crash, which was sparked by China’s slowdown.
The professor also accused the Chinese government of fixing measures of growths.
And said he is worried about what will happen when the credit-fuelled growth of the colossal economy eventually comes to an end.
He said: “I think the economy has slowed down much more than the official figures show.
“And if you want to look at a part of the world that has a debt problem, look at China.
“They’ve been a credit-fuelled growth, these things don’t go on forever.”
Worries over China’s slowdown triggered a huge market crash last summer and again at the start of 2016.
For now, fears have been calmed.
But Mr Rogoff said the country IS a huge worry, despite what other critics claim.
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