Crispin Odey, founder of London-based Odey Asset Management, says economies dependent on China for income are headed for recession, and central banks will not be able to come to the rescue because they have exhausted policy weapons
Odey is bearish on China growth:
- China's competitiveness is eroding, capital accounts vulnerable to outflows ...
"We've got a very
old-fashioned recession which is spreading across the world." - Will be a hit to Australian income, then declining capex and rising unemployment ... these have already prompted an RBA rate cut this year... but, "Frankly, it's a demand problem."
There's more at the article, which is gated at the Australian Financial Review: Hedge fund manager Crispin Odey says following China could lead to recession
