A new world war is practically underway, “ certainly in Ukraine and cyberspace, ” economist Nouriel Roubini explained.
Last week, the New York University professor has been interviewed by Der Spiegel and listed some of the tour’s most acute problems.
Recalling a recent occasion hosted by the International Financial Fund, he referred to historian Niall Ferguson who “ said in a conversation there that we would be lucky if we got an economic crisis like in the 1970s — and not a war like in the 1940s. ”
When talking about major global threats, Roubini mentioned the ongoing conflict between Russia and Ukraine, adding that Iran plus Israel are “ on a collision course” as well.
“ I read that this Biden administration expects China to attack Taiwan sooner rather than later, ” the economist said, summarizing that “ World War III has already effectively started. ”
The rivalry between Washington and Beijing is traveling tension to a large education, Roubini noted, adding how the US has banned the particular export of certain semiconductors to China and is pressuring European nations into cutting trade ties with the nation on national security grounds. He believes that a breakup of the globalized world is definitely looming.
“ Trade, finance, technologies, internet: Everything will split in two, ” he predicted.
It was not clear in the event that non-allied nations would select the US side in the confrontation, he said. “ I asked the particular president of an African nation why he gets 5G technology from China instead of from the West. He informed me, we are a small country, so someone will spy on us anyway. Then, I would as well take the Chinese technologies, it’s cheaper, ” the economist revealed to Der Spiegel.
The professor is involved that the political systems in the US and Europe may not be capable to deal with the problems, leading to a rise of right-wing governments.
Nouriel Roubini came to prominence for predicting the financial crisis of 2008-09 and was dubbed ‘ Physician Doom’ by Wall Street.