15 Quotes by Clyde Prestowitz

The possibility exists that they would get upset with us at some pint and sell dollars. And if they sold all those dollars right away, the value of the dollar would plummet, interest rates would spike and the U.S. would go into a recession.

I think the Japanese are in a very tough dilemma,

I think that this is a case where the U.S. leaders involved are calculating the behind-the-scenes discussion, ... Pressure on Turkey is more likely to produce the desired result than a public bashing.

That's unsustainable. There is an unpleasant adjustment in our future. We will have to adjust our lifestyles to our means. There will be a sharp recession if not a depression.

We have been talking about globalization for a long time. Actually, the word has been incorrect because only half of the world has been part of the globalization process. But in the last ten years, the other half -- China, India, the countries of the former Soviet block -- has joined the capitalist system. And I like to say globalization is going global.

The special role of the dollar as the world's money removes all financial discipline from the United States and enables currency manipulation by other countries. This is the key Titanic-like flaw in the current system. It cannot last.

People don?t understand how integrated the U.S. economy has become with the global economy, how dependent we have become on other nations.

They don't seem to be able politically to take the steps that are necessary to get their economy stabilized. In fact, it's not even clear that they entirely recognize the danger that the falling yen poses to the rest of Asia and in fact the rest of the world economy.

It's true these are poor countries on average, but these are big populations. We've been talking about globalization for a long time, except half of the population has been out. Now they're in.