Geopolitical issues are ‘the great unknown’ for the global economy: Blackstone Group CEO [Business News Network (BNN) Energy & Resources (Canada)]
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Source: Business News Network
Geopolitical issues are ‘the great unknown’ for the global economy: Blackstone Group CEO Geopolitical issues could have major consequences for the global economy, the head U.S. private equity firm The Blackstone Group Inc. is warning. “My own sixth sense is that geopolitical issues are the great unknown, which could have very substantial consequences,” Stephen Schwarzman, the firm’s co-founder and CEO, told BNN Bloomberg’s Amanda Lang. He cited Iran, China and North Korea as countries he sees posing a risk, but noted the ultra-low interest rate environment is of greater concern to him. “The conventional economic cycle with overproduction of certain types of goods that lead to economic slowdowns doesn’t appear to be what’s really the risk to me,” he said. “What happens with interest rates, which are now so low that it’s almost unnatural? What happens if they reverse, if we get some inflation.” ßdoes the last sentence need a question mark as well? “There are always risks to economies, b
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