CX Daily: Summers on Secular Stagnation and Lessons for China

Summers /

Cover Story: Summers on secular stagnation and lessons for China

Comparing the United States and China as two people stranded in a rowboat on a turbulent sea, former U.S. Treasury Secretary Lawrence Summers said the world’s two largest economies have to find a way to cooperate to get to shore.

“It doesn’t really matter how they feel about each other and what history got them into the rowboat. If they are both going to survive, they have to find a modus vivendi for cooperation,” said Summers during a recent visit to China.