“The (Federal Reserve) should certainly emulate the decline in market (interest rates) and should cut by a least a full percentage point, building on the steps already taken.”
“The history of U.S. trade policy amply demonstrates that dollar overvaluation and the huge and growing trade deficits that it spawns are by far the most accurate predictors of U.S. protectionism.”
“The euro will start to challenge the dollar as the world's lead currency as soon as the European Central Bank and the new currency establish their credibility -- which will probably be quite soon.”
“In this crucial area, China is not playing by the rules. Failure to get progress on the economic issues will undermine the whole relationship and make it harder to get cooperation on security issues.”
“So what we're showing in our numbers (is that the) bilateral deficit with China should really be interpreted as a U.S. deficit with all of Asia, not as a bilateral problem with China to be singled out.”
