Can China and India save the US?

by Dave

Bill Emmott, former editor of The Economist writing in the Guardian

via GuardianComment is free
The continued growth of China and India is being financed by Chinese and Indian savings – India still has a small balance-of-payments deficit and needs a bit of foreign borrowing, but it doesn’t need much. The vast amounts of investment in those countries that is going into new roads, buildings, ports, airports and factories can therefore carry on regardless of what happens in America – which means that the huge demand in China and India for energy and other raw materials will also carry on growing, a boon for all the [..] countries that sell them those commodities.