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If you care about the green transition, China’s EV industry is a miracle: Kenneth Rogoff
Harvard professor, former chief economist of the IMF and international chess grandmaster Kenneth Rogoff weighs in on the future of interest rates and inflation, China’s economic woes and misplaced US protectionism in a wide-ranging interview with The Straits Times. Here are edited excerpts from the interview:
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Visitors at the Beijing Auto Show in April. Professor Kenneth Rogoff says China’s electric car industry is like cloning Tesla a hundredfold.
PHOTO: AFP
On higher for longer interest rates
I’ve been saying this would happen for a long time. It’s just normal. We were doing fine in the 1990s and 2000s, when real interest rates were higher than they are now, so we’ll do fine again. The idea that this will lead to an immediate recession and break the back of the global economy is an overstatement.
