James McCormack
James McCormack
James McCormack, Jr.was a United States Army officer who served in World War II, and was later the first Director of Military Applications of the United States Atomic Energy Commission...
asia believe external growth highly ongoing regional remains whom
Notwithstanding ongoing regional integration with China, growth in Asia remains highly leveraged to external demand, and particularly the US consumer, whom we believe to be overstretched." ()
continuing eventually exchange expect external foreign including increase lead ratings reach reserves strength trillion
The continuing strength of China's external sector, including the increase in its foreign exchange reserves and exports, are a positive. However, an increase in reserves which we expect to eventually reach a trillion US dollars, will not necessarily lead to a ratings upgrade." ()
address allow chinese combined economic external growth makers opportunity policy sector strengths structural taking
The combined growth and external sector strengths allow Chinese policy makers to better address the country's structural economic challenges, and they have been taking the opportunity to do so." ()
backdrop favorable less political recently
Asia's political backdrop has recently become less favorable for growth." ()
political tolerance
We are still comfortable. In a BB range, we do have some tolerance for political noise." ()
both issue negative outlook recent resolved
While the e-VAT and the impeachment issue have both been resolved favorably in recent days, we are maintaining our negative outlook on the Philippines' ratings." ()
case expect happens negative outlook retain revert whether
What would be under consideration is what to do with the negative outlook - whether to revert that back to stable, or to retain the negative outlook, or to downgrade the credit. But upgrading (the rating) from a negative outlook is not something that happens very frequently, and I don't expect that would happen in the case of the Philippines." ()
debt effective goes government interest issues rate service takes
So if the effective interest rate on Philippines government debt goes up, it just takes more of their revenues to service their debts, so these are issues that really do need to be addressed." ()
country politics
The Philippines is one country where politics matter." ()
downward emerging forecast further growth midst political rates sovereigns turmoil weakest
Those sovereigns in the midst of political turmoil also have the weakest growth rates in emerging Asia, and further downward revisions to the growth forecast may be necessary." ()
asia consumer expect half housing market maybe second slow starting turning
We are starting to see maybe a turning in the housing market in the US. And if the US consumer retracts a little, we would expect to slow down in the US in the second half of the year. That translates into a slowdown in Asia as well." ()
along bank biggest central challenge control inflation potential
The biggest challenge for the central bank is to control the potential inflation that comes along with the buildup in reserves." ()
growing money question supply
There is a question about how long you can do that, but it is not as if money supply is growing too fast." ()
concerned effect finances fiscal might outlook performance political politics public structure
There are two things that we're still concerned about. One is the structure of public finances notwithstanding the fiscal performance in 2005 and two is the political outlook and the effect that politics might have on public finance." ()