Clyde Prestowitz Quotes

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. - Clyde Prestowitz

We are consuming more than we produce. - Clyde Prestowitz

This looks like a variant of that. - Clyde Prestowitz

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. - Clyde Prestowitz

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. - 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. - Clyde Prestowitz

The key thing is that there's a mechanism to spot negative trends and to enable that problem to be brought forward quickly. - Clyde Prestowitz

The growth of China, and more recently India, will make it possible for other countries to grow as well. Latin America, for example, has become a major supplier for China. So China's growth is stimulating growth in Latin America, which is fantastic for them. - Clyde Prestowitz

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. - Clyde Prestowitz

That's a card our negotiating partners have which gives them a certain leverage, a certain influence over the U.S.. - Clyde Prestowitz

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