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,
More Quotes from Stephen Roach:
Without the consumer, revival remains all too dependent on tenuous support from China and business investment.Stephen Roach
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.
Stephen Roach
Conventional wisdom has it that globalization is a win-win but that is increasingly looking like a pipe dream. There is no escaping the concerns that workers in high-wage countries have.
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An extraordinary deflationary shock in tradable goods has coincided with outsize disinflation in services, resulting in the most deflation-prone business cycle of the modern post-World War II era,
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This is the year to watch out carefully for the end of the great American spending binge.
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