Faculty News
Professor Michael Spence comments on global market volatility at the World Economic Forum in Davos
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Excerpt from Bloomberg -- "I think the underlying fundamental problem is that there is very broad based weakness and fragility in the underlying global market. And so the asset prices went off on a basis of what, with the benefit of hindsight, are unrealistic growth forecasts in China and the emerging markets, in Europe, and so on. And so I think the asset prices are volatile but in the process of resetting down."
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