A Quote by Joseph Stiglitz
America's role in the global economy inevitably was going to diminish; we're smaller relative to - as China, India, other emerging markets grow.
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We tax our companies more than any other country in the world, so we really are not really encouraging businesses to grow and expand, and over time, that's going to make it so that we diminish our role in the global economy.
I believe investors should invest for the long run, so I don't buy and sell. I usually maintain the classic index of global equities, diversified U.S. and global and emerging markets, and when the risk is larger, I diminish the amount in global equities and put more into liquid assets - but very irregularly.
China is a BRIC country. BRIC country means Brazil, Russia, India and China. This emerging economy really is helping the revival of the world economy.
I'm still very bullish on emerging markets. There's an emerging middle class. They're a growing group of customers. And frankly, they want Walmart. They want everyday low price. And that's why we are continuing to grow in the emerging markets around the world, too.
I am against portraying China as the demon of the global community. China has grasped more quickly than other countries what globalization means and what it demands. The country has learned how to use other people's innovations for itself. India, incidentally, is not far behind China in this respect. Both are not nations in the European sense, but rather cultural communities with enormous markets. The challenge of the future is to work out how to deal with that.
China frequently confounds stock market prognosticators because it has a penchant for straying markedly from other broad global indexes year-by-year over the decades - even from emerging markets. It's hit or miss.
We are in a global economy whether we like it or not. And we believe - I believe - that America should be at the table writing the rules of the global economy instead of China.
We have to make sure America writes the rules of the global economy, and we should do it today while our economy is in the position of global strength, because if we don't write the rules for trade around the world, guess what: China will.
Unlike national markets, which tend to be supported by domestic regulatory and political institutions, global markets are only 'weakly embedded'. There is no global lender of last resort, no global safety net, and of course, no global democracy. In other words, global markets suffer from weak governance, and are therefore prone to instability, inefficiency, and weak popular legitimacy.
So much of what happened to India late last year and early into 2011 is the same story we've seen with other big emerging markets, and that is that investors started to realize that the growth trajectory in India would have to get moderated by tightening policy.
The innovation industries are rapidly going global. In five years, more than 50% of venture capital returns will come from markets outside the United States, including China, India, Brazil, and Australia, and AlwaysOn events are on top of these trends.
Beyond combating global warming and supporting domestic business interests, remaining a part of the Paris Agreement has clear benefits to the U.S. at large. Nations such as China and India are already eyeing an opportunity to take over America's role as the world leader on this issue.
As a matter of fact, Latin America's economy is almost as big as the economy of China. We're all focused on China. Latin America is a huge opportunity for America - time zone, language opportunities.
Amongst high unemployment rates, a competitive job market and a shrinking global economy, the emerging social media industry only continues to grow.
My administration is focused on continuing to grow our economic foundation while ensuring emerging industries have the infrastructure and workforce they need to succeed in the global economy.
I could see America playing a slightly smaller role in the Middle East but I would not see us abandoning the region and just say "Oh," like I said, "China, Russia, it's yours now. Global focus is just on our hemisphere." I don't see that happening.
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