Competition is the necessary driving force toward delivering a superior product or service, ... We should not shy away from it.
Although the tendency in recent months toward stabilization in the East Asian economies is encouraging, clearly those economies are not out of the woods, as recent events attest,
That greater tendency toward self-correction has made the cyclical stability of the economy less dependent on the actions of macroeconomic policy makers, whose responses often have come too late or have been misguided.