How the Great Recession and European debt crisis have turned back the growth “clock” of most advanced economies, sometimes more than ten years. Looks like Ken Rogoff was right: this is not Great Recession; it’s Great Contraction.
Interview of Jin Liqun, Chairman of China’s Investment Corp. (or CIC), China’s sovereign wealth fund, with $460 billion assets under management.
Jin offers his views toward Europe and her economic and political systems. He also explains why CIC is unlikely to inject large rescue investments as per European leaders’ request. I’d say Jin’s views toward Europe is quite typical in China.
Starting from 12″10′ in the video interview, Jin had some really strong (yet painfully true) comments toward European welfare system.