James McCormack
James McCormack
James McCormack, Jr.was a United States Army officer who served in World War II, and was later the first Director of Military Applications of the United States Atomic Energy Commission...
asia believe external growth highly ongoing regional remains whom
Notwithstanding ongoing regional integration with China, growth in Asia remains highly leveraged to external demand, and particularly the US consumer, whom we believe to be overstretched." ()
backdrop favorable less political recently
Asia's political backdrop has recently become less favorable for growth." ()
damaged entire episode fiscal policy
The entire episode really damaged fiscal policy credibility in the Philippines." ()
fiscal follow further improve increase medium numbers positive sure tax term
These are positive numbers for the Philippines. We have to make sure that the value-added tax increase is implemented and fiscal follow up is done in the medium term to further improve revenue." ()
countries growth political rates revise turmoil
If the political turmoil continues, we may need to revise growth rates in countries like Thailand." ()
opposition policy power struggle
You don't see much opposition to her policy initiatives. I think it's more of a power struggle than a policy struggle." ()
address allow chinese combined economic external growth makers opportunity policy sector strengths structural taking
The combined growth and external sector strengths allow Chinese policy makers to better address the country's structural economic challenges, and they have been taking the opportunity to do so." ()
fruit good investment previous reflected slower
The fruit of previous investment is being reflected in the slower import figures, and that's good for medium-term growth." ()
continuing eventually exchange expect external foreign including increase lead ratings reach reserves strength trillion
The continuing strength of China's external sector, including the increase in its foreign exchange reserves and exports, are a positive. However, an increase in reserves which we expect to eventually reach a trillion US dollars, will not necessarily lead to a ratings upgrade." ()
downward emerging forecast further growth midst political rates sovereigns turmoil weakest
Those sovereigns in the midst of political turmoil also have the weakest growth rates in emerging Asia, and further downward revisions to the growth forecast may be necessary." ()
country politics
The Philippines is one country where politics matter." ()
credit domestic growth product
When you've got credit growth that already exceeds (gross domestic product growth), that's a lot of new credit." ()
concerned effect finances fiscal might outlook performance political politics public structure
There are two things that we're still concerned about. One is the structure of public finances notwithstanding the fiscal performance in 2005 and two is the political outlook and the effect that politics might have on public finance." ()
case expect happens negative outlook retain revert whether
What would be under consideration is what to do with the negative outlook - whether to revert that back to stable, or to retain the negative outlook, or to downgrade the credit. But upgrading (the rating) from a negative outlook is not something that happens very frequently, and I don't expect that would happen in the case of the Philippines." ()