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As activity restarts following pandemic lockdowns and countries like China struggle to restore normality, the global economy is enduring something “we’ve never done before,” the Columbia University professor said in an interview in Lindau, Germany.
"The United States is intent on creating its own supply chains for advanced semiconductors in order to compete with China," Jeffrey Sachs, economics professor at Columbia University, told Xinhua.
Economists Joseph Stiglitz at Columbia University and Kevin P. Gallagher at Boston University wrote earlier this year that “forcing excessive repayments lowers the productive potential of the borrowing country, but also harms creditors” and requires borrowers “to pay more at exactly the moment when they are most squeezed from market access in any other form.”
“Even when the private sector holds a lot of government debt, this effect can dominate,” Dr. Woodford wrote. Also, he wrote, if the government sees it’s shoveling out too much money in interest, it could cut other spending or raise taxes, offsetting the stimulative effect of interest payments.
Inflation will likely remain high - so investors need to brace for aggressive Fed rate hikes, according to Columbia University economist Jeffrey Sachs.
In order to tame ongoing inflationary pressures, the U.S. “needs to ratchet down the hostility” with China, Columbia University economics professor Jeffrey Sachs told CNBC’s “Street Signs Asia.”
Ester Fuchs, an urban politics professor at Columbia University’s School of International and Public Affairs, highlighted the idea that the congressional race is between the incumbents — referring to them as “two iconic figures in New York City politics.”