A Quote by Henry Paulson
China needs a currency that reflects underlying economic fundamentals.
Quote Topics
Quote Author
Related Quotes
Here in Australia we do get impacted by global economic events. But we should have some confidence that our economy has got strong underlying fundamentals.
What there is no dispute about is whether or not China is a currency manipulator. They are a currency manipulator. They actively intervene every single day to keep the value of their currency less than it would be against the dollar than if it floated freely. We think. Even China barely disputes that.
Just as it wouldn't be right to only to have an economic dialogue with China, equally you shouldn't restrict your dialogue solely to issues around, say, human rights. You can raise all those issues, and that is what reflects a mature discussion. So I don't think essentially we have to choose between being partners in China's economic development and being proud defenders of British values.
The momentum today behind the idea of a new global reserve currency reflects, in effect, the rise of the rest in world politics and economics, led by China.
For China to continue to enjoy economic prosperity, it needs to foster trusting international relationships, not tensions ... and it is important for China to understand this.
China has made important contribution to the world economy in terms of total economic output and trade, and the RMB has played a role in the world economic development. But making the RMB an international currency will be a fairly long process.
This understanding, underlying constitutional interpretation since the New Deal, reflects the Constitution's demands for structural flexibility sufficient to adapt substantive laws and institutions to rapidly changing social, economic, and technological conditions.
China is a developing country with a huge population, and also a developing country in a crucial stage of reform. In this context, China still faces many challenges in economic and social development. And a lot still needs to be done in China, in terms of human rights.
Fundamentals, fundamentals, fundamentals. You’ve got to get the fundamentals down because otherwise the fancy stuff isn’t going to work.
If in the earlier part of the century, middle-class children suffered from overattentive mothers, from being "mother's only accomplishment," today's children may suffer from an underestimation of their needs. Our idea of what a child needs in each case reflects what parents need. The child's needs are thus a cultural football in an economic and marital game.
The defining moment in American economic history is when Bill Clinton lobbied to get China into the World Trade Organization. It was the worst political and economic mistake in American history in the last 100 years. China went into the World Trade Organization and agreed to play by certain rules. Instead, they are illegally subsidizing their exports, manipulating their currency, stealing all of our intellectual property, using sweatshops, using pollution havens. What happens is, our businesses and workers are playing that game with two hands tied behind their back.
With China, their primary weapon in China is what they've done with the devaluation of their currency.
China is the big economic engine in Asia, so what happens is, as China growth expands, these countries in the periphery of China, whether it be Indonesia, Malaysia, Singapore, the Philippines, they end up growing with China because they become big exporters.
Country [China] needs to continue opening up and keep connecting. It needs to realize that the world has become one. The old concept of isolation, the idea that you can solve your problems on your own does not work anymore - neither in cultural, economic, nor political terms.
Concerning the common currency: today, the euro is not worth it for Poland. The reason why we survived the financial and economic crisis quite well is that we have a national currency. This will not change in the near future.
The biggest single thing China needs to do is build an emergent middle class and domestic consumption, and the best way to do that is through pension and health-care reform, and currency reform to establish purchasing power among its citizens.
Related Authors
Andrew Yang Quotes
American
Public Servant
Ben Bernanke Quotes
American
Public Servant
David Frum Quotes
American
Public Servant
Elizabeth Warren Quotes
American
Public Servant
James Comey Quotes
American
Public Servant
Janet Reno Quotes
American
Public Servant
Janet Yellen Quotes
American
Public Servant
Karren Brady Quotes
British
Public Servant
Michael Hayden Quotes
American
Public Servant
Mohammed Saeed al-Sahaf Quotes
Iraqi
Public Servant
Paula White Quotes
American
Public Servant
Samantha Power Quotes
Irish
Public Servant
Scott Gottlieb Quotes
American
Public Servant
Steve Bannon Quotes
American
Public Servant
Vivek Murthy Quotes
American
Public Servant
Wendy Kopp Quotes
American
Public Servant