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Anticompetitive practices hurt Chinese private firms nearly as much as foreign ones.
Henry Paulson
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Henry Paulson
Age: 78
Born: 1946
Born: March 28
Banker
Former United States Secretary Of The Treasury
Investment Banker
Politician
Palm Beach
Florida
Foreign
Chinese
Private
Ones
Hurt
Firms
Practice
Practices
Much
Nearly
Firm
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As the Indian government has embraced greater economic openness, the creativity and expertise of the Indian workforce has been unleashed onto the world economic stage.
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For market discipline to constrain risk effectively, financial institutions must be allowed to fail. Under optimal financial regulatory and financial system infrastructures, such a failure would not threaten the overall system.
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The worst is likely to be behind us.
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I don't see (subprime mortgage market troubles) imposing a serious problem. I think it's going to be largely contained.
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I believe that the root cause of every financial crisis, the root cause, is flawed government policies
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The first priority is to make sure we have capital to continue to have capital available to put into the financial system. That's the first priority.
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An open, competitive, and liberalized financial market can effectively allocate scarce resources in a manner that promotes stability and prosperity far better than governmental intervention.
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The U.S. didn't save enough we borrowed a lot. There were structural imbalances in Asia with exporters, with oil exporters for a whole variety of things.
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There's always light at the end of the tunnel, right? It just depends on how long the tunnel is.
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In China, export lobbies have fought for policies that favor their interests and limit foreign competition.
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Even if you don't have the authorities - and frankly I didn't have the authorities for anything - if you take charge, people will follow.
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As a Christian Scientist, I don't go to doctors and get diagnoses.
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There is no way to stabilize the markets other than through government intervention.
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There are some things that you can work on immediately.
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