Russian Aluminum Tycoon Still Confident in China

Oleg Deripaska, the Russian tycoon who is president of aluminum giant Rusal, is confident that China should remain stable in the medium term, despite recent market turmoil.

“I wouldn’t support this view that China will collapse tomorrow,” Deripaska told CNBC at the World Economic Forum in Dalian, China.

“There is no foundation for that. Maybe you can see it better from New York or London but not from China soil for sure.”

Over the summer, fears about Chinese economic growth slowing led to a dramatic increase in stock market volatility globally.

Deripaska warned that there might be some risks that the Chinese would “shake the debt market…for some political reason or for something else but for the moment we can’t see any problem in the future.”

via CNBC

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Alfonso Esparza

Alfonso Esparza

Senior Currency Analyst at Market Pulse
Alfonso Esparza specializes in macro forex strategies for North American and major currency pairs. Upon joining OANDA in 2007, Alfonso Esparza established the MarketPulseFX blog and he has since written extensively about central banks and global economic and political trends. Alfonso has also worked as a professional currency trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
Alfonso Esparza