Stephen Roach
Stephen Roach
adverse capital china consequences global markets opening pace risk run
I do not think that China is going to run the risk of accelerating its pace of opening up its capital markets because of adverse consequences in the global economy.
cure disease prevail until war
You've got war, SARS, uncertainty, and imbalances that will prevail after the war is over and until a cure for the disease is found.
accepted alignment appear avoid balanced banking central closer dependence excess moving order pitfalls practice remarks
Greenspan's remarks appear to be more balanced than in the past. He is moving into closer alignment with what has become accepted practice in most central banking circles. Missing, however, is what a central bank should do in order to avoid the pitfalls of excess dependence on overvalued assets.
confidence invested leaves markets
When he leaves ... he will take away 18 years of confidence the markets have invested in him.