‘China likely to end up as a former would-be superpower’, says Goldman partner who called Japan’s demise

Forecasts for China to surpass the US as the world’s main economic power are misplaced. So says an observer who foresaw Japan’s eventual demise a year before its land-price bubble began to burst.

“The vulnerabilities in China today are very similar to the vulnerabilities in Japan,” said Roy Smith, 76, who was a Goldman Sachs partner when he wrote a column saying Japan’s rise as a financial hegemon was finished. “Nobody agrees with me. But they didn’t agree with me in 1990, so at least I have one right.”

 

Curated from ‘China likely to end up as a former would-be superpower’, says Goldman partner who called Japan’s demise | South China Morning Post