Stephen S. Roach
Chief Economist and Director of Global Economic Analysis, Morgan Stanley
Chief Economist of Morgan Stanley, Stephen S. Roach said that the economic growth for China and United States would decline in year 2007. From his view, the impacts of economic declination from both countries would be worse than what expected currently in the market. As a result, the whole world’s economic growth would decline in next year. He expected that the economic growth rate for the whole world will be about 4% in year 2007.
He said that from the past 5 years, China and U.S. have contributed about 43% directly to the global economic growth and indirectly spurred on the global economic growth (I.e. from 20% to 25%). From the past 5 years, China and U.S. have contributed about 2/3 of the global economic growth.
