If, as I suspect, the American consumer now enters a sustained slowdown, there will be unmistakable reverberations on U.S.-centric export flows in many major regions of the world. Stephen S. Roach More Quotes by Stephen S. Roach More Quotes From Stephen S. Roach The lack of monetary discipline has become a hallmark of unfettered globalization. Central banks have failed to provide a stable underpinning to world financial markets and to an increasingly asset-dependent global economy. Stephen S. Roach financial discipline world The pendulum of economic power might well begin to shift from capital back to labor. Stephen S. Roach pendulums economic might To the extent that hiring in high-wage, developed economies continues to lag, the sustainability of any impetus to private consumption can be drawn into serious question. Stephen S. Roach lag wages serious
