Krugman writes: "Will China's stock crash trigger another global financial crisis? Probably not. Still, the big market swings of the past week have been a reminder that the next president may well have to deal with some of the same problems that faced George W. Bush and Barack Obama. Financial instability abides."
Paul Krugman. (photo: Bloomberg News)
Crash-Test Dummies as Republican Candidates for President
28 August 15
ill China’s stock crash trigger another global financial crisis? Probably not. Still, the big market swings of the past week have been a reminder that the next president may well have to deal with some of the same problems that faced George W. Bush and Barack Obama. Financial instability abides.
So this is a test: How would the men and women who would be president respond if crisis struck on their watch?
And the answer, on the Republican side at least, seems to be: with bluster and China-bashing. Nowhere is there a hint that any of the G.O.P. candidates understand the problem, or the steps that might be needed if the world economy hits another pothole.
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