China is handling this in its normal conservative way. |
Earnings of corporations are going to be under more and more pressure. |
I think there's still just a long grinding process ahead of Brazil, as they try to shake through this. |
I'll put it this way. We're surviving and we hope the voles aren't. |
It is more important what the jobs report shows in December and January -- that will affect how many rate hikes we'll have this spring. |
The trade deficit is much more responsive to the growth and consumption differential than to exchange rates. |
We're not expecting a panicky financial market meltdown or much further dollar weakness. |
What you have been seeing over the last year is the policy of Jiang Zemin, not Deng Xiaoping. |