56 Quotes by 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.

If that's the economic model, China is in trouble.

There is good reason to believe that a sharp weakening in the value of the U.S. currency is essential to the global rebalancing that must begin to take place if the world's current account imbalances are to be corrected,

We've gone from one bubble, in stocks, to another, in housing.

Greenspan's remarks appear to be more balanced than in the past. He is moving into closer alignment with what has become accepted practice in most central banking circles. Missing, however, is what a central bank should do in order to avoid the pitfalls of excess dependence on overvalued assets.

I think there's every reason to believe that another jobless recovery could be in the offing in the years immediately ahead -- one that would take a comparable toll on consumer demand.

that doesn't mean that there cannot be some adjustments made along the way.

Like it or not, the experience of the 1980s demonstrates that supply-side tax cuts are not self-financing. In my opinion, similar results can be expected from the multi-year tax cuts now on the table in Washington.

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.