China has been moving -- very slowly, but the speed is very much dependent on their ability to withstand reforms. The idea of forcing China and other countries to move on the currency front is a bad one.
More Quotes from Stephen Roach:
This is just another nail in the coffin for the world economy.Stephen Roach
To the extent such a payback is likely after the current spending burst, it could act as a sharp depressant on overall demand growth in subsequent quarters. That development, in the context of a lingering jobless recovery, could raise serious questions about the staying power of America's current cyclical resurgence.
Stephen Roach
For the last three years, we've had a two-engine world the Chinese producer and the American consumer. Both engines are going to slow down. The debate will be whether this two-engine global 747 is in danger of stalling.
Stephen Roach
The major risk to the global economy is complacency. We cannot keep thinking that we can shrug off the deficit and the property bubble.
Stephen Roach
Like it or not, the experience of the 1980s demonstrates that supply-side tax cuts are not self-financing. In my opinion, similar results can be expected from the multi-year tax cuts now on the table in Washington.
Stephen Roach
I continue to find Germany, by far Europe's biggest economy and still the third-largest economy in the world, the most interesting story of all. Germany, despite its bad press, is very much on the move.
Stephen Roach
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