Frankfurt Peter Orszag is one of the most powerful bankers in the United States. In October he will take over the management of investment house Lazard. In an interview with Handelsblatt, he already identified the topics of particular interest to him.
On the power struggle between the United States and China. Because of the political tensions with the West, many companies might “at least consider” spinning off their business in China to a greater or lesser extent or in whole, says Orszaj, who was a member of US President Barack Obama’s cabinet.
He advised the US government to coordinate closely with the Europeans on China policy: “If only the US imposed sanctions, This won’t work. But if the United States and the European Union form a kind of super bloc, it is a very powerful tool for imposing global standards.”
In addition to geopolitical risks, Orszag sees risks in the banking system. In his opinion, the US regional banking crisis, which shook the financial world in March, is not over yet.
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