Willem Buiter, chief economist at Citigroup. REUTERS/Lucy Nicholson
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Citigroup Inc. has rung alarm bells over the world economy.Buiter is a frequent outlier. Counterparts at Goldman Sachs Group Inc. and JPMorgan Chase & Co. are playing down the risk posed by China to rich economies, while those at Societe Generale SA said this week that they envisage just a 10-percent chance of a new global recession with cheap oil providing a buffer against the emerging market weakness. In July 2012, Citigroup was warning of a 90 percent chance Greece would leave the euro only to be proved wrong.As for the advanced economies, Buiter said China's woes could infect them via declines in trade given it accounted for 14.3 percent of global commerce in 2013 .
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