The Focus Now Shifts Towards China And Other Asian Exporters, According to Bloomberg

New York University Professor Roubini has said that the bust in Dubai is another sign that the global credit crisis is far from over. The attention is turning towards China. Bill Gross, chief of Pacific Investment management says that “It’s gearing up for export that doesn’t find an end consumer -- that’s the real problem in China”.

The focus is now on China’s stimulus efforts and low interest rates adding fizz to stock and real-estate markets. Bloomberg columnist William Pesek feels that this is a wake-up call and China too must clamp down on speculation-driven property markets. After Dubai realized that the ground below its economy is shifting, Asia’s export-driven economies could also lose their foothold amid unstable global demand.