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.
More Quotes from 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
The market is beginning to focus on the huge U.S. trade imbalance and there is a view that as growth picks up in Japan and interest rates go up, a lot of the money coming from Japan to the U.S. will not come as rapidly into the U.S. securities markets, ... Before Hours .
Robert Hormats
He's got his antennae up all the time.
Robert Hormats
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.
Robert Hormats
He will reach out to a broader range of people to hear their point of view. The worst way to serve the president is to narrow the range of advice he is exposed to.
Robert Hormats
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