Financier calls China vulnerable to European economy
Financier Macdonald called China vulnerable to Europe's economy and U.S. consumers
Lawrence Macdonald, former vice president of Lehman Brothers Financial Corporation, in a conversation with RIA Novosti called China very vulnerable to the European economy and consumers in the United States.
According to McDonald, China is a country with "hard assets" that will rise in value during the crisis.
Earlier, Lawrence Macdonald, former vice president of Lehman Brothers Financial Corporation, said that the risk of recession in the U.S. economy is inevitable, in the next two months we should expect a sharp decline in economic activity and GDP.
He also said that another fifty U.S. banks might go bankrupt, while the U.S. authorities will solve the structural problem. According to McDonald, the current problems in the U.S. banking system are similar to the collapse of the famous financial institution Lehman Brothers in 2008.