State economists tell lawmakers that strengthening dollar could limit exports but the economy should remain stable.
BY JACOB PALMER | DIGITAL NEWS EDITOR
State economists recently told lawmakers that the strengthening dollar could limit exports but the economy should remain stable.
Josh Lehner and Mark McMullen did concede that economic problems in Asia will have an effect on Oregon.
Lehner said China has had three economic bubbles during the past decade in local government spending, housing and now stock trading, during which middle-class investors have lost a lot.
“Typically these bubbles do not end well,” Lehner said. “So the concern is that we will have some sort of hard landing in China, not just a relative slowdown, but a more drastic event that will send a big shock wave through the global economy.”
(SOURCE: Portland Tribune)
McMullan also noted that rural Oregon “still faces a lot of challenges” while Portland has mostly recovered from the recession.