Europe looks at China as more of a strategic partner than a competitive threat so it has stayed more out of the currency debate than the U.S..
More Quotes from Stephen Roach:
This is the year to watch out carefully for the end of the great American spending binge.Stephen Roach
The same distortions, in my view, could well be explaining a lot of the recent strength in the remainder of the U.S. data flow. If that's the case, all it will take is for the weather to return to normal and the seasonally adjusted data will fall like a stone.
Stephen Roach
Never in modern history has the world's leading economic power tried to do so much with so little. Now Washington is upping the ante as it opens the fiscal spigot to cope with post-Katrina reconstruction at the same time it is funding the ongoing war in Iraq. Could this be a tipping point for America's shoestring economy
Stephen Roach
I do not think that China is going to run the risk of accelerating its pace of opening up its capital markets because of adverse consequences in the global economy.
Stephen Roach
There is good reason to believe that a sharp weakening in the value of the U. S. currency is essential to the global rebalancing that must begin to take place if the world's current account imbalances are to be corrected,
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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