August 24, 2015 – The Huffington Post published an interview with SEP Director Marcello Messori, in which he discusses the financial crisis in China. When asked what the repercussions for Italy might be, he states:
Italy will not be the most-effected EU member state because, whatever they say, the proportion of exports to Asia as a part of the overall Italian economy is not very relevant. We have a subset of businesses that are very competitive in the international market, but that subset is very limited. Of course, whatever little growth we have experienced and our recovery from the recession was due to exports. Therefore, there is a risk of negative impacts. But this will very much depend on the economic policy reactions in the rest of the world. Here, the great unknown is the United States Federal Reserve. If the Fed believes that the impact of the Chinese deceleration could play a role in the growth rate of the United States, perhaps they will postpone the increase in interest rates.
- The full article (in Italian) is available from The Huffington Post.