Part of the reason some Japanese companies have underperformed financially was corporate governance and board structures.

I agree with people who say we want more income equality; we want more consumer protection; and we want sounder banks. I agree with all that.

Just because you have a good hand today doesn't mean it's good tomorrow. And some of the things we're doing may become very disadvantageous at some point.

Over the longer term, China will grow by about 6% or 7% per year. The Chinese authorities usually react pretty quickly to unfolding economic events, and you've seen them recently change a whole bunch of policies to be more conducive to growth. They have the power and capability to macromanage the economy - to accomplish their growth objectives - which means they're pretty much going to come close to what they say is going to happen.

Good regulation should be conducive to business and to customer protection.

I speak to lots of people around the world, and no one would tell you that 25 basis points will make a difference to them.

I think the Republicans have really thoughtful financial policies, and I'm more in the middle on taxation.