Davos, Switzerland (AHN) – Economist Nouriel Roubini, also known as “Dr Doom,” told an audience at the annual World Economic Forum meeting on Wednesday that overall risks to the global economy are balanced.
Roubini, of Roubini Global Economics, did not discount the threat from the euro zone’s ongoing sovereign-debt crisis. However, he said that such threats were offset by the strength of the economies of emerging markets, which continue to lead global economic growth.
Roubini earned his nickname from previous accurate calls the global financial crisis a few years ago.
Now, Roubini told the audience that the global economic picture could be viewed as either a glass half-full or a glass half-empty. Roubini said that among the risk factors that feed a half-empty view are the euro zone’s sovereign debt crisis, continued high unemployment in the United States, the financial problems of municipal, state and federal governments there, global food and commodity price inflation, stagnant economic growth in most developed nations coupled with high household debt.
He said that the factors that feed a half-full view include emerging markets showing economic growth that is accelerating beyond the growth in China or India even as fears of a double-dip recession fade.
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