'Dr. Doom' Rubini: "No Thaw in US-China Relations... Cold War Intensifies"

"There will be no thaw whatsoever between the United States and China." Nouriel Roubini, a professor at New York University known as 'Doctor Doom' on Wall Street, warned that the US-China cold war will intensify further.

Photo by Professor Rubini Bloomberg

In an interview with Bloomberg TV on the 24th (local time), Professor Roubini commented on the recent Group of Seven (G7) summit held in Japan, stating, "China's reaction is that Europe, the United States, and Japan are uniting against China," indicating that the US and China are heading down a path of confrontation.

The G7 leaders met this month in Hiroshima, Japan, to discuss joint responses to China. They also agreed to reduce dependence on China in key supply chains while striving to maintain stable relations.

Professor Roubini predicted, "The cold war between the United States and China will become colder," and "there will be no thaw," adding that this situation will slow economic growth and raise commodity prices, ultimately having ripple effects on the market.

Additionally, Professor Roubini identified the biggest geopolitical risks facing the market as the aftermath of Russia's invasion of Ukraine and the potential escalation between Iran and Israel.

Regarding discussions on raising the US debt ceiling, he expressed concerns that it could lead to catastrophic consequences. He warned, "An agreement might be reached at the last hour, or it might not," and added, "If no agreement is reached, the market will collapse."

This content was produced with the assistance of AI translation services.