Christine lagarde is the managing director of the imf and thank you so much for joining us. Is there something that the west misunderstands about Chinese Markets and does that exacerbate volatility . I think there is a lot the west does not understand about Chinese Markets. The essence of whats going on in china is an adjustment. They have a debt restructuring challenge. They have an economic restructuring challenge and they have to come up with a new model. They have a Capital Markets challenge. To build in an efficient way that circulates capital through the system better. They have a balance of payments challenge. That will pressure on the currency. Capital outflows those types of things. These are things that have happened repeatedly through the rest of the world. The United States has had three major debt crises. We couldnt pay our debts in 1971. In 1982, we had a debt crisis. We had the s l crisis. Weve reshaped our economy many times. I remember when the Steel Industry ended, he
Fang xinghai, vice chairman of Chinas Securities Regulatory Commission and director general at the intercontinental economic department. Gary cohn, president at goldman sachs. Zhang xin, chief executive officer and cofounder at soho china. And ray dalio, chairman and chief executive officer at chief Investment Officer at bridgewater associates. Thank you so much for joining us. Ray dalio, is there something that the west misunderstands about Chinese Markets . And does that exacerbate the volatility we have seen the last few weeks . Mr. Dalio i think there is a lot the west does not understand about Chinese Markets. I think the essence of whats going on in china is an adjustment. They have four major challenges. They have a debt restructuring challenge. They have an economic restructuring challenge, so they have to come up with a new model for the economy. They have a Capital Markets challenge. To build in an efficient way that circulates capital through the system better. They have a b
Managing director of the imf and thank you so much for joining us. Is there something that the west misunderstands about Chinese Markets and does that exacerbate volatility . I think there is a lot the west does not understand about Chinese Markets. The essence of whats going on in china is an adjustment. They have a debt restructuring challenge. They have an economic restructuring challenge and they have to come up with a new model. They have a Capital Markets challenge. They need to build in addition ways that circulates capital through the system better. They have a balance of payments challenge. That will pressure on the currency. These are things that have happened repeatedly through the rest of the world. The United States has had three major debt crises. We had the s l crisis. Weve reshaped our economy many times. We have gone into other areas. We have had another of talents of payments and currency issues. One of the things being misunderstood is what is a normal balance of pay
Thank you so much for joining us. Is there something that the west misunderstands about Chinese Markets, and does that exacerbate volatility we saw the last two weeks . Think there is a lot the west misunderstands about the Chinese Markets. Essence is and adjustment four major challenges. They have a debt restructuring challenge. They have to come up with a new model for the economy. They have a Capital Markets challenge to build the Capital Markets in an efficient way so through thes system. And they have a balance of payments challenge having to do with the pressure on the currency and the outflows. These are things that have happened repeatedly through the rest of the world. The United States has had three major debt crisis is. We cannot pay our debts in 1971. We had a debt crisis in 1982. Now crisis. S and we shaped our economy many times. I remember when the Steel Industry ended in other areas we have had a number of balance of payments and currency issues. I think one of the thin
What we have said about whether is a little bit complicated and confusing. Let me say between december and january, the Committee Cell Data Committee sought data aboutas more optimistic the outlook. Incoming data since january, when our statement sounded quite ne, probablyc town down due to weather and we probably overdid the optimism in january. March,ake december to the committees views are largely unchanged. You have been you served on the fed previously. I am wondering, as chairwoman, what has been different about being on the fed and your responsibilities as chair . I feel i am very lucky i have had a lot of that experience to draw on. As i approached this role because it is complicated and in many ways, i feel the buck stops with me. In terms of management of the fomc and responsibility to ensure the Federal Reserve makes progress on its goals of getting the economy back on track and making progress on our Financial Stability in regulation. I feel the weight of responsibility kee