He said the big question in the U.S. is whether the economy is going to grow at 2.75 percent or 3.75 percent; in China, the range is 4 percent to 9 percent.
Read MoreDealBook 2014: Live from the conference
On inversions, Blankfein said tax law should be written in a way that it doesn't encourage a move just for tax reasons. Now, people are incentivized to avoid taxes legally; it can't be a patriotic duty to stay in the U.S.
"That kind of pressure is a fact of life" for companies, he said.
Asked about presidential politics, Blankfein hinted he would support Hillary Clinton.
"I've always been a fan of Hillary Clinton," he said.
Asked about how long he would be CEO of Goldman Sachs, Blankfein said "I don't think about it. This is what I do."