Any country that seems to have a slightly overvalued currency gets whacked by speculators. People go after the ones they think will be the weakest.
More Quotes from Robert Hormats:
There is a strong, long-term American interest in closer economic, trade and financial relations with China, ... Business Day.Robert Hormats
He's got his antennae up all the time.
Robert Hormats
The U.S. is better off because we would not be selling very much to Mexico today if the Mexican economy were in crisis. In fact, we are selling more to Mexico today than before the crisis occurred.
Robert Hormats
A lot of these countries owe money to U.S. banks in dollars and yen and, therefore, our financial institutions may find it a little more difficult to collect on some of that money.
Robert Hormats
If it starts to cascade from one country to another, it will reduce the efficiency of the global economy and slow down the pace of activity.
Robert Hormats
I think business leaders will keep before them the longer term view of a very fast growing market in China, good investment opportunities, good trade investment opportunities, and they will argue very strongly against governments overreacting to any problems.
Robert Hormats
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