Wilbur Ross

Businessman

1937-11-28

Quotes by Wilbur Ross

• The typical big Japanese company has somewhere between a third and 40 percent of its revenues coming from developing countries, and about a third of Japan's exports are also to the emerging countries, so in a strange way, Japan, which has very little internal growth, its big companies are a good way to play the emerging markets.

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• Regulations don't solve things. Supervision solves things. If we could figure out that the subprime thing was a train wreck that was coming, where were the regulators?

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• Banking, I would argue, is the most heavily regulated industry in the world. Regulations don't solve things. Supervision solves things.

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• We are the world's biggest importer. We need to treat the other countries as good suppliers.

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• The problem with regional trade agreements is you get picked apart by the first country. Then you negotiate with the second country. You get picked apart. And you go with the third one. You get picked apart again.

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• I think there's a big difference between the impact of trade agreements on corporate America and the impact on Mr. and Mrs. America. Corporate America has adjusted to them by investing lots of capital offshore... What we're doing is we're exporting jobs and importing products instead of exporting products and keeping jobs.

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• The United States is the least protectionist country in the world but has the largest trade deficit, while other countries are highly protectionist and have huge trade surpluses. This cannot continue.

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• Washington, D.C., is the new Wall Street. No significant financial transaction of any consequence occurs without it.

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• Mexico has 44 treaties with other countries that make it very advantageous to do international shipping from Mexico rather than from the United States. Believe it or not, Mexico has better treaties with the rest of the world than the United States does.

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• Mexico has 44 treaties with other countries that make it very advantageous to do international shipping from Mexico rather than from the United States.

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• Everybody talks about tariffs as the first thing. Tariffs are the last thing. Tariffs are part of the negotiation. The real trick is going to be increase American exports. Get rid of some of the tariff and non-tariff barriers to American exports.

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• I believe in the two-party system.

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• Believe it or not, Mexico has better treaties with the rest of the world than the Unites States does.

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• The one term I don't like to be called is a 'vulture.' Because to me, a vulture is a kind of asset-stripper that eats dead flesh off the bones of a dead creature. Our bird should be the phoenix, the bird that reinvents itself, recreates itself from its ashes. And that's much closer to what it is that we really do.

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• If you think about it: a big bank in any country, what is it? Really, as an investment, it's a warrant on economy.

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• There isn't a bank in the world that could withstand a run. They all borrow short and lend long, regardless of what they say.

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