China: Roubini says stimulus is only a short-term fix

China’s economic stimulus package offers only a temporary respite from the country’s – and indeed the world’s – current woes, believes Nouriel Roubini, professor of economics at the Stern School of Business, New York University and chairman of consultancy firm RGE Monitor. "We have to think about changing the system of global current account imbalances," he said on a panel discussion at the Boao forum in China, "because we cannot continue with the present system of having the US as the consumer of first and last resort, over-borrowing and over-leveraging, while surplus countries like China are spending less than their income."