Bloomberg.com, 7 May 2009, Liza Lin
May 7 (Bloomberg) -- Asia’s export-driven growth model is “broken” and nations in the region need to do more to boost domestic demand, said Nouriel Roubini, the New York University economics professor who predicted the financial crisis.
“The old model of export-led growth is broken,” Roubini said in an interview with Bloomberg News yesterday. “Unless policy makers find ways of stimulating consumption and private domestic demand, then the growth recovery is going to be, even over the medium term, weaker than otherwise.”
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