Greg Mastel Quotations

For so many years, international finance has been the domain of a very small elite in a few countries. The message the G-8 leaders got from Seattle is that they need to make their policy discussions more relevant to the general public.

Most legislation is offered just for political effect. But this one is likely to become the basis of law. Something will become law on China this year.

When APEC was created, the United States was certainly the leading country in the mix,

As the U.S. trade deficit becomes more and more of a concern, the currency issue and intellectual property are both tougher issues to crack than textiles,

Say you buy a factory in Brazil. When Brazil devalues its currency, that factory's value in dollars drops dramatically so your investment is worth a lot less. People are less likely to invest in a country that's prone to devaluations,

Deng engineered the most dramatic economic transformation of the 20th century, maybe ever. He changed China from a moribund, communist economy to an expansive, bull, rapidly growing mixed economy, with Marxism and market elements both present there. And it's a dramatic change.

It's an offer that will never be taken up. Other countries are not likely to drop their trade barriers any time soon.

A good example is Mexico in the mid 90's. It tried to do a moderate devaluation, but the market didn't accept it. It lost control of the currency, there was a dramatic devaluation, and a subsequent recession -- even a depression in Mexico.