By CAPosts 19 January, 2021 - 11:38am 62 views
Nouriel Roubini is 62 years old, was born in Turkey and is one of the most recognized contemporary economists in the world . He is a professor of economics at New York University's Stern School of Business and president of the consultancy RGE Monitor.
He became well known for being one of the few who predicted the bursting of the US housing bubble and the financial crisis of 2008. He was also among those who warned early on that COVID-19 would paralyze the economy . In an extensive interview with journalist Tim Bartz on the news site Spiegel, he analyzed, among other issues, US policy, the investments that should be made in technology and the debate around the possibility of establishing new regulations for technology platforms. .
Regarding this last point and the decision of some networks to block Donald Trump's account , Roubini said the following: “Eliminating Trump's access was the right thing to do because he is responsible for the uprising on Capitol Hill. But it was also totally opportunistic . Facebook was collecting revenue from political advertising until recently, and now, at the end of Trump's term, they are cracking down on it. For Facebook CEO Mark Zuckerberg, it has to do with money, he's an absolutely disgusting guy. Twitter and the other platforms are bad, Facebook is worse ”.
When asked if he expected stricter regulations to be implemented for this industry, the economist remarked that the technology giants became too powerful but warned that it was not easy to deal with this situation.
And he clarified: “ Antitrust laws, for example, adapt to classic monopoly suppliers, who dictate prices through their income power . Oil or telecommunications companies used to be divided on that basis. With the tech giants it's different: their services cost nothing, but they exploit their users' data. They should be regulated differently, more strictly, but not divided. Politically, there is also a lot to be said against its rupture. "
In relation to this last point, he said that" China uses its digital companies such as Alibaba or Tencent for cyber warfare, so the United States cannot break its digital force " . And he warned that tech giants should be part of the national security gear.
Roubini also analyzed the future of the economy in the framework of new technologies. In this sense, he said that the United States should invest more in 5G, artificial intelligence, robotics and infrastructure.
“Biden needs to develop a national master plan, similar to what China has done. Obama largely stayed out of economic policy, but that no longer works, especially since China is growing so aggressively. However, there has to be a social consensus on this, and that will be enormously difficult. And it will take years to see results. Simply spending money is not enough, "he stressed.
As for the internal politics of the United States, Roubini anticipated that there will be more armed uprisings," especially by white nationalists, if only to provoke the left. On the other hand, he predicted that Russia and China will launch cyberattacks against the United States and spread disinformation.
Meanwhile, he said he feared that Trump, who will be in office until tomorrow, January 20, " could make Saudi Arabia bomb Iran's nuclear facility. in Natanz . All you have to do is claim that Iran is enriching uranium, then such an attack would be legitimized and unstoppable by the US military. ”
While he only has a few hours left in office, Roubini says this decision only takes a matter of hours and that Trump could do it to seek to present himself as a strong man to his followers as well as to “make life difficult for his successor Joe Biden, who favors rapprochement with Iran, and to do his friends in Israel and Saudi Arabia a favor. You will need your money to finance your planned media empire; banks will no longer give you loans. "
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