Bill White, a star central banker for decades, believes the global economy is facing so many tough and varied challenges that, “Something is almost bound to go wrong.”
The current Chairman of the Economic and Development Review Committee at the OECD (Organization for Economic Co-operation and Development) and the former Chief Economist at the Bank for International Settlements, White sees pressing financial issues in almost every corner of the globe.
“Everything is interconnected and the system as a whole looks quite fragile,” White tells Jonathan Roth of RiskHedge Radio. “And, a lot of the fragility has to do with debt—both in the advanced market economies and the emerging economies.”
The debt that’s piling up—from Japan and China, to Europe and the United States—will lead to potentially dangerous outcomes. “What I’m worried about is that there’s so many possible trigger points that something is almost bound to go wrong,” declares White. “And when it does, it’s going to have big implications everywhere.”
Listen to the full podcast (24:04) by clicking the play button above.