Global trade is an increasingly large component of the world economy -- now accounting for close to 25 percent of global GDP. So when world trade hits the wall, so should the broader measures of global output.
More Quotes from Stephen Roach:
I think there's every reason to believe that another jobless recovery could be in the offing in the years immediately ahead -- one that would take a comparable toll on consumer demand.Stephen Roach
Without the consumer, revival remains all too dependent on tenuous support from China and business investment.
Stephen Roach
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.
Stephen Roach
There is a dangerous degree of complacency, and out of that comes a surprise that does the most damage to the global economy.
Stephen Roach
It's time to make it official. The downside risks we have been warning of over the past several months are now coming to pass.
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
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Cynthia Payne
I noted that people are happy here in India. When I went back home, people had everything in the materialistic sense and were surrounded with abundance, but they were not happy.
Goldie Hawn
There's still not as many women in music as men, and I don't really know why. I don't have the answers. I do wish there were more women that played music.
Mary Timony