Next global financial crisis may start in China

Baku. 26 January. REPORT.AZ/ The next global financial crisis between the countries will begin in China. Report informs citing the Russian media, Professor of Harvard University Kenneth Rogoff said.

According to him, although there are problems in the eurozone, China is the only country that has increased its economic reputation and entered a new economic stage:"Although official Beijing tries to avoid the crisis, China is the most vulnerable country to the crisis in the region," he said.

Rogoff believes that the crisis will be different because there is no actual private company in China: “State guarantee more quickly provided in this country than in the eurozone. The biggest problem is that China's economy has not yet been balanced, largely based on investments and exports.Moreover, the country is heavily dependent on lending.This, in turn, can cause problems in the future”.

"High debt is available not only in China, but also in western countries.His level is higher than the level of the recent financial crisis”, professor added.