Economic Trend News
- Economist warns of market correction
Date: 30-May-2007 Sources: (Shenzhen Daily)
A HIGH degree of 'irrational exuberance?among investors could lead to a major correction in the Chinese stock market in the next few months, with a knock-on effect for the world economy, Yale University economics professor Robert Shiller said Monday.
'It could even spark a worldwide recession,'he said. Shiller made the comments on the sidelines of a conference in Sao Paulo, Brazil. Shiller studies financial market behavior worldwide. He is the author of a book on the psychology of investment markets called 'Irrational Exuberance.'
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