The US economy could face a "long, slow grind" as huge debts take their toll, Ruchir Sharma wrote.
There has been $8 trillion in new federal spending since 2021, he said in the Financial Times.
"Many nations have come to regret massive stimulus campaigns, as the resulting debts weighed on growth."
Big spender China was credited with 'saving the world' after 2008, but it has seen growth slow since then," Sharma said.
When the stimulus and other temporary boosts wear off, the American economy could settle into a long, slow grind."
Persons:
Ruchir Sharma, Biden, Big spender China, Sharma
Organizations:
Financial Times, Service, The Rockefeller International, Federal Reserve, China, Reserve
Locations:
Wall, Silicon, American, China