25 January 2020

Nouriel Roubini

Chairman of Roubini Global Economics and professor of economics at the Stern School of Business, New York University
  • The Republicans must now choose between passing their tax cuts and pursuing a much more modest reform. Photo: Bloomberg.

    A fiscal reality test for US Republicans

    - Apr 11, 2017 3:54pm
    US President Donald Trump’s first major legislative goal – to “repeal and replace” the 2010 Affordable Care Act (“Obamacare”) – has already imploded, owing to Trump and congressional Republicans’ naiveté about the complexities of healthcare reform....
  • Economic theory suggests that, in principle, a border adjustment tax could push up the value of the dollar by as much as the tax, nullifying its effects on the relative competitiveness of imports and exports. Photo: Reuters

    America’s bad border tax

    - Mar 6, 2017 9:52am
    The United States may be about to implement a border adjustment tax. The Republican Party, now in control of the legislative and executive branches, views a BAT – which would effectively subsidize US exporters, by giving...
  • An “America first” approach under Donald Trump is likely to worsen the longstanding Sunni-Shia proxy wars between Saudi Arabia and Iran. Photo: Reuters

    ‘America First’ and global conflict next

    - Jan 3, 2017 10:12am
    Donald Trump’s election as US president does not just represent a mounting populist backlash against globalization. It may also portend the end of Pax Americana – the international order of free exchange and shared security that...
  • If Italian Prime Minister Matteo Renzi fails, the anti-euro Five Star Movement could come to power as early as next year. Photo: Bloomberg

    Europe grapples with Brexit hangover

    - Aug 2, 2016 11:30am
    The market reaction to the Brexit shock has been mild compared with two other recent episodes of global financial volatility — the summer of 2015 (after fears of a Chinese hard landing) and the first two...
  • Globalization can be made to benefit all as long as the winners compensate the losers. Photo: Internet

    Where the political fault lines lie in globalization

    - Jul 5, 2016 10:18am
    The United Kingdom’s narrow vote to leave the European Union had specific British causes. And yet, it is also the proverbial canary in the coalmine, signaling a broad populist/nationalist backlash — at least in advanced economies...
  • Silicon Valley's thinking is that we are entering a new golden era of innovation, which will radically increase productivity growth and improve the way we live and work. The reality is different. Photo: Huffington Post

    Why innovations are not driving productivity growth

    - Jun 6, 2016 12:42pm
    Since the global financial crisis erupted in 2008, productivity growth in three advanced economies — the United States, Europe, and Japan — has been very slow both in absolute terms and relative to previous decades. But...
  • The eurozone economy is relying on monetary easing to bolster growth but a British referendum on EU membership is a dark cloud over the horizon. Photo: Telegraph

    What’s behind the global growth funk

    - May 3, 2016 9:26am
    The International Monetary Fund and others have recently revised downward their forecasts for global growth — yet again. Little wonder: The world economy has few bright spots and many that are dimming rapidly. Among advanced economies,...
  • The European Union and the eurozone could be ground zero of global financial turmoil this year. Photo: Bloomberg

    Seven major risks threatening global economy

    - Mar 7, 2016 10:46am
    The question I am asked most often nowadays is this: Are we back to 2008 and another global financial crisis and recession? My answer is a straightforward no, but that the recent episode of global financial...
  • The Party for Freedom, led by Dutch politician Geert Wilders, is one of the anti-Muslim parties that are becoming more popular in Europe’s core. Photo: Reuters

    Eurozone faces multiple threats this year

    - Jan 5, 2016 10:37am
    At the cusp of the new year, we face a world in which geopolitical and geo-economic risks are multiplying. Most of the Middle East is ablaze, stoking speculation that a long Sunni-Shi’ite war (like Europe’s Thirty...
  • Tracking a benchmark requires no work, but it yields only the sum of the good, the bad and the ugly because it cannot tell you whether to buy advanced economies or emerging markets. Photo: Internet

    Guess what? There’s always a third way in investing

    - Jul 28, 2015 9:46am
    Even in normal times, individual and institutional investors alike have a hard time figuring out where to invest and in what. Should one invest more in advanced or emerging economies? And which ones? How does one...
  • Brazil's problems are self-inflicted, stemming from loose monetary and fiscal policies during Dilma Rousseff's first administration, and have nothing to do with impending rate increases by the Fed. Photo: Reuters

    Fed rate hikes won’t hurt all countries equally

    - Jun 30, 2015 2:24pm
    The prospect that the US Federal Reserve will start exiting zero policy rates later this year has fueled a growing fear of renewed volatility in emerging economies’ currency, bond and stock markets. The concern is understandable:...
  • Herd behavior by traders trying to exit crowded trades in a hurry can lead to flash crashes. Photo: Bloomberg

    The liquidity time bomb for financial markets

    - Jun 1, 2015 8:12am
    A paradox has emerged in the financial markets of the advanced economies since the 2008 global financial crisis. Unconventional monetary policies have created a massive overhang of liquidity. But a series of recent shocks suggests that...
  • The US dollar is appreciating faster than anyone expected, creating currency frictions that can lead to trade frictions. Currency wars can lead to trade wars. Photo: Bloomberg

    Why the US is joining the currency war

    - May 4, 2015 8:34am
    In a world of weak domestic demand in many advanced economies and emerging markets, policymakers have been tempted to boost economic growth and employment by going for export led-growth. This requires a weak currency and conventional...
  • A pedestrian walks past a banner advertising a closing-out sale in Athens. Difficult negotiations between Greece and the eurozone over the country's bailout package  could produce unintended consequences. Photo: Bloomberg

    Signs of life in eurozone but risks remain

    - Apr 2, 2015 9:46am
    The latest economic data from the eurozone suggest that recovery may be at hand. What is driving the upturn? What obstacles does it face? And what can be done to sustain it? The immediate causes of...
  • Negative bond yields are occurring in countries and regions where the currency is depreciating and likely to depreciate further, including Germany and other parts of the eurozone core. Photo: Internet

    Negative way to growth

    - Mar 2, 2015 9:08am
    Monetary policy has become increasingly unconventional in the past six years, with central banks implementing zero interest rate policies, quantitative easing, credit easing, forward guidance and unlimited exchange rate intervention. But now we have come to...
  • What will happen to workers when robots take over most of their jobs? Photo: Reuters

    Where will all the workers go?

    - Jan 2, 2015 9:44am
    Technology innovators and CEOs seem positively giddy nowadays about what the future will bring. New manufacturing technologies have generated feverish excitement about what some see as a Third Industrial Revolution. In the years ahead, technological improvements...
  • Eurozone growth has stalled after an anemic post-2008 restart, and is one shock away from another bout of recession, according to Nouriel Roubini. Photo: Bloomberg

    The single-engine global economy

    - Nov 11, 2014 1:52pm
    The global economy is like a jetliner that needs all of its engines operational to take off and steer clear of clouds and storms. Unfortunately, only one of its four engines is functioning properly: the Anglosphere...
  • Photo: Bloomberg

    Gouging the Gauchos

    - Jul 3, 2014 9:10am
    Like individuals, corporations and other private firms that rely on bankruptcy procedures to reduce an excessive debt burden, countries sometimes need orderly debt restructuring or reduction. But the ongoing legal saga of Argentina’s fight with holdout...