Nouriel Roubini spoke to Google’s Zeitgeist event about the state of the global economy.
He starts talking at around 18 minutes, and begins to ramble about all the awful things the global economy is experiencing right now.
But then, at 23:30, Roubini starts talking about what is good with the world.
He focuses on three themes: globalization, technology, and emerging markets.
On globalization, the most interesting point is the focus on the export of services now aided by telecommunications; On technology, there are some positive points for the capability of the west to thrive; and on emerging markets, Roubini notes that the integration of China and India into the global economy is considered by some the most important event in the last one thousand years (that’s right, one thousand).
And then, thereafter, Roubini talks about all of the bad things, including the fall of the west, the reduction in wages for lower level workers in the west, and the threat of sovereign default.
Most interesting of the awful, two thirds of people in the U.S. don’t have the skills to enter the army, let alone be successful members of the workforce.
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