China should draw lessons from the financial crisis, Aware of the dependence on exports and does not guarantee sustained economic growth, well-known economist at New York University, Professor Lu Riel • Roubini (Nouriel Roubini) in winter during the Davos World Economic Forum said.
"Sustained economic growth requires increased spending, including social security, health care, education, consumption, and reduced savings, open capital markets. But unfortunately, China's current reform did not in this direction." Roubini In response to the "Finance" press Chinese policy makers will be how to solve the problem, said the development model.
Known as "Dr. Doom" Roubini in Davos attending the winter, "What is the new standard for global growth," the discussion, focused on not only hope that China's economic growth, as China's economic volume and the United States or the gap is too far.
"China's consumption, imports and other aspects behind the United States, still can not replace the U.S. position. In addition, although China's efforts to expand domestic demand, but to stimulate domestic consumption, results have been limited," Roubini said.
He also said that the global economy, including China are in the face of inflationary pressures. In the short term, inflation in Europe and the United States and other developed countries will affect the labor market. In addition, the United States and Europe's low interest rate policy has led to asset bubbles all over.
