Is the US emerging from a confrontation with Beijing with armor? “China’s problems show a lot”

“We’ve never seen anything like this before, and we don’t know what’s going to happen,” Kenneth Rogoff, a Harvard professor and former chief economist at the International Monetary Fund, told POLITICO.

The prospect of a prolonged crisis in the world’s second-largest economy poses a serious threat to global growth At a time when central bank policymakers are still reeling from the pandemic, rising inflation and rising geopolitical tensions. While its short-term impact on the U.S. economy will be minimal — that’s more or less the consensus now — the long-term effects will affect everything from credit markets to global supply chains.

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