Lord Turner warns of global economic challenges posed by public debt, high interest rates

In an interview with CGTN's Guan Xin at the 2023 Bund Summit, Adair Turner, chair of the Energy Transitions Commission, said after 2008, a large number of private sector borrowers reduced excessive debt, slowing the world economy and increasing public debt relative to GDP. He expects lower interest rates in the next five years but cautions that higher rates might persist for a couple more years, potentially causing economic tensions.

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