Nouriel Roubini: This "Perfect Storm" Of Threats Could Slam The Economy By 2013 The world economy could face a perfect storm of soaring sovereign debt and slowing growth, according to the economist who predicted the last global financial crisis. Debt problems in the US and Europe, slowing growth in China and stagnation in Japan could combine to harm the economic recovery, the New York University professor Nouriel Roubini said. This in turn could hurt the GCC by choking off demand for oil, the region's main revenue source, other economists say. Mr Roubini said there was a one-in-three chance of different factors converging to smother growth from 2013. Other possible outcomes were "anaemic but OK" global growth or an "optimistic" scenario in which the economy improved. "There are already elements of fragility," he told Bloomberg News. "Everybody's kicking the can down the road of too much public and pr...
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