Thursday, March 18, 2010

Stephen Roach, Chairman of Morgan Stanley Asia says "We should take out the baseball bat on Paul Krugman"

More Gems: "America does not have a China problem. America has a savings problem. America has the biggest savings shortfall of any leading country in modern history, When you don't have savings you have to run current account deficits to import surplus savings from abroad and run massive trade deficits to attract the capital... Isn't it the height of hypocrisy that America can articulate a particular position in its currency but the Chinese are not allowed to do that."

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