This week we look at the comments of one of my favorite analyst groups, the Morgan Stanley Global Economics Team, who's most recognizable member is Stephen Roach. I have been a big fan of Roach over the years and part of last week's commentary was a roundtable discussion by the group between Roach, Stephen Li Jen, Richard Berner, Joachim Fels, Andy Xie, Eric Chaney, David Miles, Riccardo Barbieri, Ted Weiseman and Gray Newman.
This distinguished group debates the dollar, deficit and other global imbalances between the US, Europe and Asia. I found it an interesting and highly insightful look at where the world economies stand today. A group as talented as this one is always able to help you think "Outside the Box."
John Mauldin, Editor
Outside the Box
Debating the Dollar
A weakening dollar is now center stage in world financial markets. But dollar depreciation is not the endgame of global rebalancing. It is the means toward the end -- a long overdue realignment in the mix of global saving and consumption. Morgan Stanley's Global Economics team has been actively debating the currency issue and its implications for the world economy. Below are excerpts from a…