Trade liberalization is a plus for global growth, no question about it.
More Quotes from Stephen Roach:
Once viewed as an unparalleled opportunity, the Chinese miracle is now being viewed as a threat by both the U.S. and Japan.Stephen Roach
I am feeling better about the prognosis for the world economy for the first time in ages.
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
The case for a classic U.S. current account adjustment grows more compelling. This could lead to renewed weakening of the dollar and higher long- term real interest rates.
Stephen Roach
The same distortions, in my view, could well be explaining a lot of the recent strength in the remainder of the U.S. data flow. If that's the case, all it will take is for the weather to return to normal and the seasonally adjusted data will fall like a stone.
Stephen Roach
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,
Stephen Roach
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