20 April 2001, 16:08 O'Neill says biggest threat to U.S. economy is people talking it down
WASHINGTON (AFX) - The biggest threat to the U.S. economy is people
talking it down, Treasury Secretary Paul O'Neill said in an interview
on CNBC television.
Reiterating that he is in favour of a strong dollar, O'Neill said
he is in favour of "complete" free trade, with a zero-for-zero trade
policy.
Asked what he sees at the biggest risk to the U.S. economy, O'Neill
said: "People talking themselves down".
He said Argentina and Brazil cannot be regarded separately, as any
economic problems in one will create a problem in the other.
What caused the current problems in Argentina was a 50 pct
devaluation in Brazil, he said.
However, O'Neill said he is "encouraged" by the appointment of
Domingo Cavallo as Argentina's Economy Minister.
He said he hopes that Argentina can solve its problems and that
"Brazil will come along".
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