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.
More Quotes from Stephen Roach:
You've got war, SARS, uncertainty, and imbalances that will prevail after the war is over and until a cure for the disease is found.Stephen Roach
Unfortunately, the SARS effect is concentrated on Asia -- long the fastest-growing region in the world and the one area that essentially had been keeping the global economy afloat. To the extent that this source of global resilience is now being undermine
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
Borrowing from physics, the last thing an unstable system needs is a shock. And yet the risks of just such a disturbance have never seemed higher. Far-fetched as it seems, the possibility of a more perilous endgame is rising.
Stephen Roach
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,
Stephen Roach
Mine didn't even rhyme, ... But I loved him. He was a great man. I miss him. Put that in, will you.
Stephen Roach
Readers Who Like This Quotation Also Like:
Based on Topics: Progress QuotesBased on Keywords: depressant
We are all are equal, but some pay higher tax rates than others.
Jeff Rich
Heartthrobs are a dime a dozen.
Brad Pitt
In order to conquer, what we need is to dare, still to dare, and always to dare.
Georges Jacques Danton