The risk is that he will be blind-sided, as his predecessors were, very early in his tenure by something he is not all that well prepared for and by something that the markets do not have confidence in him for.
More Quotes from Stephen Roach:
When he leaves ... he will take away 18 years of confidence the markets have invested in him.Stephen Roach
For the last three years, we've had a two-engine world the Chinese producer and the American consumer. Both engines are going to slow down. The debate will be whether this two-engine global 747 is in danger of stalling.
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
The United States has long drawn comfort from the quality differential of its educational system. However, in the Internet Age with its ubiquitous diffusion of knowledge, innovation, and technological change, that may turn out to be an increasingly false sense of security.
Stephen Roach
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,
Stephen Roach
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.
Stephen Roach
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