Turkish-born American economist Nuriel Roubini said this week that a cold war between the US and China is deteriorating and WW3 has already begun.
The further effects of the Ukraine war: Roubini spoke at the Yahoo Finance All Markets Summit 2022 on US-China tensions and global geopolitics discussed the ongoing war in Eastern Europe and why he believes “it’s the start of something else”.
“The Third World War has already begun. It started in Ukraine because this conflict has broader implications that go well beyond Russia and Ukraine,” Roubini said.
The Emeritus Professor at New York University’s Stern School of Business is known as “Dr. Doom” for accurately predicting a series of bearish events, including the 2008 financial crisis.
The escalation to a hot world war, in which armies fight as opposed to a cold war in which countries try to stage each other politically, will be sparked by “a US-China confrontation over the Taiwan issue,” said Roubini.
Roubini believes the direct confrontation will take place within the next five to ten years.
The trigger: It has been widely reported the Chinese President Xi Jinping is closely monitoring Russia’s invasion of Ukraine to develop a possible strategy for retaking Taiwan. Roubini believes China’s reunification with the East Asian island nation is Xi’s top priority, which he hopes will cement his legacy.
“The reason Xi Jinping is seeking a third and possibly a fourth term right now is not because he wants to go through history as the man who reformed China, but because he wants to go through history as the man who united history wants to go (the) mainland with Taiwan,” said Roubini.
Roubini sees the future event as a trigger that will plunge the US and China into a full-blown hot war.
“We don’t know if it’s going to happen, like…
