The Business Times

Gita Gopinath

THE WRITER IS THE GREGORY AND ANIA COFFEY PROFESSOR OF ECONOMICS AT HARVARD UNIVERSITY. SHE WAS THE FIRST DEPUTY MANAGING DIRECTOR OF THE INTERNATIONAL MONETARY FUND FROM 2022 TO 2025 AND ITS CHIEF ECONOMIST FROM 2019 TO 2022.

A market crash today is unlikely to result in the brief and relatively benign economic downturn that followed the dotcom bust. There is a lot more wealth on the line now – and much less policy space to soften the blow of a correction.

The crash that could torch US$35 trillion of wealth: Gita Gopinath

The world has become dangerously dependent on American stocks

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