Roubini: Soft landing in China is "mission impossible"

China’s attempts to engineer an economic “soft landing” is a “mission impossible,” said prolific economist Nouriel Roubini, Bloomberg reported. The co-founder of Roubini Global Economics said in a seminar in Helsinki that China’s investment-driven growth model “always” leads to a “hard landing.” He argued that China’s policymakers will “do anything possible” to keep growth rates above 8% – including an effort to “front-load” growth at the cost of future risks – as the country prepares for a delicate leadership transition next year. The economist added that Beijing’s mooted efforts to help ailing eurozone sovereigns was “cheap talk.” Roubini, nickednamed “Dr Doom” for his consistently bearish outlook on the global economy, shot to fame after correctly predicting the US property market collapse.