China is biggest threat to global economy right now, says Harvard professor
Eminent economist Ken Rogoff rubbishes claims that China is a ‘special case’ and would be able to defy the gloomy outlook as it economy slows.
By Ben Chapman
The biggest threat to the global economy is not Brexit, but an impending crash in China, according to one of the world’s most eminent economists.
Speaking to the BBC, Harvard professor, Ken Rogoff warned that China was facing a “pretty sharp landing already” after years of rapid economic growth. The real picture is much worse than the official one, Rogoff said. “I worry about China becoming more of a problem,” he said.
The economist rubbished claims that China is a special case and would therefore be able to defy the gloomy projections. “Everyone says China’s different, the state owns everything they can control it. Only to a point. It’s definitely a worry, a hard landing in China,” Rogoff said.