Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
December 11, 2004
United StatesI am going to be away from my desk next week, and don’t expect to be posting much -- at least not until next Friday. I’ll miss three key data releases:The October trade data on Tuesday.The October T…
December 11, 2004
United StatesMy harping on the fact that US economic policy now has to pass a global test is not simply meant to score rhetorical points. I suspect that the same folks who financed the expansion of the US curren…
December 18, 2004
I missed the actual release, but it is worth noting that the "guts" of the October trade data are rather discouraging. Forget the headline number: we knew it would be bad because of oil. Look at wh…
December 19, 2004
The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further. There is growing talk of a new Plaza in the US -- though not in the circles tha…
December 24, 2004
Financial MarketsIf anyone thinks that what the world really needs right now is a weaker Chinese renminbi, do let me know. Yet that is exactly what the markets have delivered this week ... It seems pretty clear that…