In an interview with Japan’s Nikkei Veritas, Blackstone’s Byron Wien discussed his views on the U.S. and Japanese economy.
Q. Will European financial issues affect the US?
The U.S. will be affected if the European economy suffers from a serious recession. But I don’t think that will happen and the U.S. economy will be able to absorb the impact from Europe. An austere fiscal policy will cause social unrest and that is a popular subject under discussion in Europe. Greece will probably survive as a member of the European Union for a while, but may have difficulty remaining a member over the long term. Other core countries like Germany, France and Holland have relatively stable economies. The European Central Bank also plays its role to enhance liquidity, making it hard for the European Union to break-up.
Q. How about Japanese economy?
Economic growth in Japan will be around two to three percent during this year. It is safe to say that the Japanese economy will be the most resilient economy in the world this year.
The views expressed in this commentary are the personal views of Byron Wien of Blackstone Advisory Partners L.P. (together with its affiliates, “Blackstone”) and do not necessarily reflect the views of Blackstone itself. The views expressed reflect the current views of Mr. Wien as of the date hereof and neither Mr. Wien nor Blackstone undertakes to advise you of any changes in the views expressed herein.
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