'All eyes on China as US and Europe fail economically'

Laurence Brahm, activist, author and economist tells RT how to solve the problem of the global economic crisis. After EU and the US failed to find a way out the world is turning to China for a new economic approach.

To solve its economic crisis, the US has to think about a more balanced approach, says Brahm.

“We really need to think about more balanced economics: reinvestment into infrastructure, education, core businesses, investment policies, fiscal policies is going to bring investment into America, bring production back into the country.”

As the US and Europe are underperforming economically andpeople lay their hopes on China, which is adopting an economic approach different from world banking. China is globalizing the yuan, which can lead to the creation of multi-basket currencies for pricing of commodities and the establishment of a bank for the developing world.

RT’s Sophie Shevardnadze discusses global economic perspectives with Laurence Brahm.