It may be that the U.S. stock market starts to rise if people think it's gone far enough.
David WesselIf you don't have a set of principles that you can explain for what you are doing, then how can anybody know what you're going to do next?
David WesselThere is the fact that - people have had a lot of confidence that the Chinese leadership could fix what is wrong with their economy so it wouldn't have ripple effects around the world. I think that confidence is being shaken by how difficult it is for them to manage their stock market and their currency.
David WesselThe only reason you would want your currency to fall, if you could control it, is in order to get more exports.
David Wessel