This ad will auto close in 10 seconds

`Another global economic slowdown nears`

Last Updated: Saturday, September 7, 2013 - 15:54

Beijing: Another economic slowdown will impact the world in the next two years as the US and other major economies halt the printing of artificial money, a noted investment specialist predicted on Friday.

"Quantitative easing and money printing is going to end in one way or the other. It is going to cause problems in the world economy. Sometime in the next year or two, we are going to have another economic slowdown," investment guru Jim Rogers said.

Rogers, co-founder of Quantum Fund, said the simultaneous monetary easing and currency debasing in all major western economies was "the first time in history" for this to happen.

The "artificial sea of liquidity" has triggered inflation in some countries and caused currency instability, he said, citing examples of the sharply depreciated Japanese yen.

He hoped central banks would stop monetary easing.

"Even if they don't, the market will say we won't take your garbage paper money anymore," he was quoted as saying by state-run Xinhua news agency.


First Published: Saturday, September 7, 2013 - 15:54
comments powered by Disqus