Hu Jintao Quotes

The dollar is currently the principal reserve currency in the world.

The leaders of the world's largest economies agreed during the November 2008 G20 summit not to create barriers hindering global trade and capital flows. Russia shares these principles.

The problem started before World War I. The gold standard was working fairly well. But it broke down because of the war and what happened in the 1920s. And then the U.S. started to become so dominant in the world, with the dollar becoming the central currency after the 1930s, the whole world economy shifted.

For many countries, monetary sovereignty is nothing more than an unattainable ideal.

When financial sectors are small and capital is mobile, floating exchange rates spell massive currency volatility. When a lot of foreign capital flows in, a freely floating exchange rate rises sharply, wreaking havoc for domestic banks and exporters alike.

Having a proper understanding of countries' external positions - current accounts, stock positions, and currencies - is critical to highlight policymakers' shared responsibility to tackle external imbalances before they become too risky.

Japan rose from the ashes of World War II as a 'trading state,' the model for export-led growth. It is not clear that the old export model of growth will be sustainable in a more 'balanced' global economy that does not rely so heavily on the U.S. consumer.

I was quite ready to accept certain restrictions on the United States. After all, there was a great dollar shortage. It was quite clear that the more prosperous Europe became, the more business there would be in the United States.

As for when to reform the yuan, there is no timetable yet.

A stronger yuan could lead to greater Chinese asset accumulation in the U.S. and elsewhere.

A weaker currency is a national tariff. After we get a weaker currency, we have to take advantage of that. Or else, we will waste it once more in inflation and in the inability to raise competitiveness.

It is much harder for economies to prosper if they cannot sell to, buy from, invest with, and even transit their neighbors. Landlocked countries with failed or failing neighbors can lose access to the world economy.

Leaders often associate strong currencies with national strength and thus view declining currencies as insults to their prowess.

The only way in which a European union, embracing Britain but excluding eastern Europe, could become economically healthy would be develop the closest sort of trading relationships either with this hemisphere or with Africa.

The best way to help countries around the world is to help them with trade.

Commerce is the greatest of all political interests.

The globalization of the economy has lifted more people out of poverty than anything else in the history of the world.

By definition, by reducing our trade deficit we will be hurting consumers. Consumers are always better off with a trade deficit.

National security must include international economics as it became clear that the U. S. economy was powerfully affective by economic policies in dozens of other countries.

It is not repeated large Emissions [printing] of a base Paper-Currency, but our Imports exceeding our Exports, that occasions Silver to be ship'd off in Ballance

If raising or allaying [revaluing or devaluing] the Money could add to its Value, or have any good Effect on Home or Foreign Trade; Then no Nation would want Money [from that nation.]

Tell me how poor Ireland, exhausted and drained of her life-blood at every pore, with a population almost wholly agricultural and unused to mechanical pursuits, is to establish new factories, and where she is to find the customers to keep them going. She cannot create new markets. This world is only limited after all, and the nations of Europe are pushing their way into its remote corners so rapidly that in a few years time, at most, the entire world will have been exhausted as a market ...

The United States must take into its own hands the control of the gold value of the dollar.

I am in favor of helping the prosperity of all countries because, when we are all prosperous, the trade of each becomes more valuable to the other.

If the United States does well [economically], then the whole world does well.