If the other economic powers all decide to reduce their budget deficits, they will have to look...

|By:, SA News Editor

If the other economic powers all decide to reduce their budget deficits, they will have to look to China to drive global growth, Simon Johnson writes. The bet is that China can keep its growth high enough to sustain the global economy while also not getting drawn into a bubble that might involve big Western banks. "Given the nature of China and the volatility of global capital flows," Johnson says, "this is quite a bet."