A Quote by Robert Zoellick
Japan rose from the ashes of World War II as a 'trading state,' the model for export-led growth. It is not clear that the old export model of growth will be sustainable in a more 'balanced' global economy that does not rely so heavily on the U.S. consumer.
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We must recognise that in a globalised world, we cannot remain insulated from external developments. India's trade performance in the current year has been robust, surpassing pre-crisis export levels and pre-crisis export growth trends. We have diversified our export baskets and our export destinations.
China's government has far more control over the country's economy than our government has over ours, and it is moving from export dependence to a model of growth driven by domestic demand. Any restriction on exports to the U.S. would simply accelerate a process already underway.
In emerging markets, slow growth in the advanced economies has shut down a traditional development path: export-led growth. As a result, emerging markets have had to rely once again on domestic demand. This is always a difficult task, given the temptation to over-stimulate.
The role of G-20 is to support the global economy to achieve strong, sustainable and balanced growth.
The German export successes are not the result of some sort of currency manipulation, but of the increased competitiveness of companies. The American growth model, on the other hand, is in a deep crisis.
Globalisation has powered economic growth in developing countries such as China. Global logistics, low domestic production costs, and strong consumer demand have let the country develop strong export-based manufacturing, making the country the workshop of the world.
Many of our problems are home-grown. Gordon Brown regularly advised the rest of the world to follow his British model of growth. But the model was flawed. It led to the highest level of household debt in relation to income in the world.
Yahoo is positioned for accelerated financial growth. We have a powerful consumer brand, a huge global audience, and a highly profitable operating model.
Until Japan's economy drove off a cliff, there was a running argument in Asia about whether it would be wiser to follow the 'Japan model' - with its megacorporations, jobs for life, state control of strategic industries - or the 'American model' of largely unfettered markets.
We have to recognize that the reason that the global order that we've enjoyed and almost take for granted over the last several years exists is that after World War II, the United States and its allies tried to build an antidote to what they had seen between World War I and World War II. There, they'd seen protectionism, beggar-thy-neighbor trading policies, so they said, we'll build an open international economy. And they did that.
I think Taiwan's economy needs an overall structural readjustment. Our new model focuses on innovation and research. This is different from our growth model in the past, which was centered on the manufacturing industry.
I hope that with the success of the transition to democracy in Tunisia that we will export to Egypt a working democratic model.
What counts is results, and there can be no doubt that the Soviet planning system has been a powerful engine for economic growth...The Soviet model has surely demonstrated that a command economy is capable of mobilizing resources for rapid growth.
To change our national economic story from one of financial speculation to one of future growth, we need a third industrial revolution: a green revolution. It will transform our economy as surely as the shift from iron to steel, from steam to oil. It will lead us toward a low-carbon future, with cleaner energy and greener growth. With an economy that is built to last - on more sustainable, more stable foundations
Our consumer-oriented economy wouldn't survive without economic growth. The whole mechanism depends on invention and insinuation of novelties, arousing new wants, seduction and temptation. This is the problem we face - much more than recapitalizing the banks. The question is: Is that kind of economy sustainable?
Japan is already a leader in energy efficiency, and it has a wealth of innovative technologies. We must put this expertise to use creating a model for growth and sustainability that we can share with the world.
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