If that's the economic model, China is in trouble.
More Quotes from Stephen Roach:
Today's German angst has much in common with the experience of the American worker in the early 1980s and again the early 1990s. For both cases in the U.S., there was no gain without pain. Germany is certainly going through the pain phase, but the gains cannot be minimized.Stephen Roach
To the extent such a payback is likely after the current spending burst, it could act as a sharp depressant on overall demand growth in subsequent quarters. That development, in the context of a lingering jobless recovery, could raise serious questions about the staying power of America's current cyclical resurgence.
Stephen Roach
Without the consumer, revival remains all too dependent on tenuous support from China and business investment.
Stephen Roach
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..
Stephen Roach
For all of China's efforts to create a vibrant domestic market, its economy is highly dependent on exports. China's economic model these days is very much a levered play on the staying power of the overly extended American consumer, ... That's a tough place to be for any economy in an energy shock - even China.
Stephen Roach
He's the victim. He was beaten, abandoned, betrayed and his medical needs ignored by David Williams.
Stephen Roach
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Based on Topics: Economics QuotesCertainly ordinary language has no claim to be the last word, if there is such a thing.
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