In a recent CNBC interview, Morgan Stanley's Stephen Roach says that the world has been focused on the wrong problem, and that what ails the so called "imbalances" is principally about savings.
He also adds that currency fix is not going to work and is a result of bad economics and political propaganda.
In addition he says that capital controls are the wrong way to go about. And that quantitative easing will not work because it does not deal with root of the problem-savings.
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