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Маккормак Джеймс

James McCormack

Global Head of Sovereign and Supranational Ratings Group, Fitch Ratings
Quotes
06.06.2019
SPIEF 2019
The Sustainability of the International Trade System and the Future of Globalization
I am fearful that we are in for a long standoff between China and the United States. And I think that there is a risk that we end up with the two biggest economies operating in parallel tracks in regards, and not in a cooperative fashion. And the world economy will suffer as a result of that
06.06.2019
SPIEF 2019
Are We Witnessing a Paradigm Shift in the Global Economic Order?
I think a large part of the reason why trade growth is slowing is because China is becoming more developed, so instead of exporting all of its output, there is a growing domestic market. <…> And on the input side, what was previously imported into China, China can now supply itself. <…> And because it [China] is so large, it affects global trade flow
06.06.2019
SPIEF 2019
Are We Witnessing a Paradigm Shift in the Global Economic Order?
In terms of the income distribution argument that we hear a lot of – winners and losers – think of income distribution within countries and think about income distribution between countries. It is hard to argue the fact that global trade and the growth of global trade has improved income distribution between countries. But within countries we can clearly see that income distribution is getting worse, so it is not an issue for governments to coordinate with each other, it is governments’ need to address these issues on their own
25.05.2018
SPIEF 2018
Economic Protectionism and Global Markets
At least for the current time, this (US protectionism - Ed.) is something that does not greatly change our forecasts of the countries' economic growth. But the risk is still there