Stephen Roach Quotes

As the prospects of a full-blown oil shock rise, the prospects of outright global recession in 2005 loom more and more likely.

- Stephen Roach

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Prospects | Full | Blown | Shock | Rise |

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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. - 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 undermined by disease-related panic, an already bruised and battered global economy has little left to lean on. - Stephen Roach

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. - Stephen Roach