There is a dangerous degree of complacency, and out of that comes a surprise that does the most damage to the global economy.
More Quotes from Stephen Roach:
China's senior leadership gets it while many outside the country do not.Stephen Roach
When he leaves ... he will take away 18 years of confidence the markets have invested in him.
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
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
The major risk to the global economy is complacency. We cannot keep thinking that we can shrug off the deficit and the property bubble.
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
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