I fully expect that the Chinese officials will address these tension points, but will not waver from their steadfast commitment on a medium- to longer-term basis of an open capital account and currency convertibility,
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The case for a classic U.S. current account adjustment grows more compelling. This could lead to renewed weakening of the dollar and higher long- term real interest rates.Stephen Roach
By staying disciplined with regard to inflationary policy, the Fed nips any inflationary expectations in the bud.
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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..
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I honestly believe that if China were to revalue its currency upward by 10 percent -- a change I do not expect nor advise -- its exports would suffer minimal loss of market share,
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Unlike the case a decade ago, I view the coming normalization of Fed policy as a much more serous threat to economic recovery in the U.S. and the broader global economy,
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That underscores the possibility of yet another shoe to fall in world growth -- all the more reason to stress the protracted nature of this global downturn.
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