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March 28, 2024

Supply Chains
Coordinating U.S.-South Korean Approaches Toward Supply Chain Resiliency

The fifth workshop for the project on Bolstering U.S.-South Korean Cooperation to Meet the China Challenge examined how the United States and South Korea should strengthen policy coordination on supp…

Leaders of the Indo-Pacific Economic Framework (IPEF) take a group photo at the Asia-Pacific Economic Cooperation (APEC) CEO Summit in San Francisco on November 16, 2023.

February 22, 2024

Economics
The IMF Needs to Focus on Setting Good Targets for External Debt Sustainability

The IMF has two frameworks for assessing debt sustainability. The market access country framework is more technically advanced, but it isn't delivering reasonable targets for debt restructuring cases…

10-Year Bonds: Key Cases

February 16, 2024

United States
Election 2024: Donald Trump Says He Will Not Protect “Delinquent” NATO Members

Each Friday, I look at what the presidential contenders are saying about foreign policy. This Week: The forty-fifth president says he will encourage Russia to attack NATO countries who don’t spend en…

Trump Photo

February 5, 2024

China
China’s New Currency Playbook

China’s pivot to a new strategy of indirect intervention through its large state banks requires new approaches to policing currency policies by both the U.S. Treasury and IMF.

Settlement by banks in China vs. Yuan-Dollar Exchange Rate

February 2, 2024

Technology and Innovation
Cyber Week in Review: February 2, 2024

Senate holds hearing on child safety on social media; U.S. disables Chinese botnet; Taylor Swift deepfakes flood social media; AI companies have to report safety tests to government; Brazil investiga…

Meta's CEO Mark Zuckerberg, X Corp's CEO Linda Yaccarino,TikTok's CEO Shou Zi Chew and Discord's CEO Jason Citron are sworn in during the Senate Judiciary Committee hearing on online child sexual exploitation at the U.S. Capitol in Washington, D.C. on January 31, 2024.

February 1, 2024

United States
Transatlantic Divergence of Economic Outlooks – Implications for Central Bank Policies

Germans and Americans are pessimistic about their economies. While the European Central Bank and Federal Reserve remain committed to fighting inflation, the ECB faces a much tougher task.

Jay Powell

November 21, 2023

China
China's Current Account Surplus Is Likely Much Bigger Than Reported

The IMF needs to focus on China’s external account in its surveillance. The reported current account surplus appears to be significantly too low.

China's Current Account Surplus Is Likely Much Bigger Than Reported

November 1, 2023

Economics
The State of Sovereign Debt Restructuring After the Meetings in Marrakech

Some fundamental problems with the IMF’s Common Framework for debt restructuring have become apparent. Not the least, debt restructuring shouldn't just be an issue for low-income countries.

The State of Sovereign Debt Restructuring After the Meetings in Marrakech

October 8, 2023

China
Can China Reduce Its Internal Balances Without Renewed External Imbalances?

The rest of the world has a big stake in whether China responds to the demand drag from its construction and real estate slump with looser monetary policy or with direct stimulus to households.

Can China Reduce Its Internal Balances Without Renewed External Imbalances?

October 3, 2023

China
China Isn't Shifting Away From the Dollar or Dollar Bonds

China's reserves has shifted its dollar reserves from Treasuries to Agencies, and made increased use of offshore custodians. The available evidence suggests that it still holds about 50 percent of it…

U.S. Portfolio vs. China's Reserves and Other Foreign Assets