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International efforts, such as the Paris Agreement, aim to reduce greenhouse gas emissions. But experts say countries aren’t doing enough to limit dangerous global warming.
December 7, 2004
Capital FlowsMonday’s FT had the story, drawing on this just released BIS report. It seems OPEC countries are holding fewer dollars and more euros in their external bank accounts. (Thanks to Marcel for alerting…
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 19, 2004
My recent travels took me to old Europe -- and reminded me that the rest of the world is, in many ways, still unprepared for changes set to hit the world economy -- a world economy where the US trade…
December 22, 2004
Martin Wolf did the math: it turns out the renminbi-dollar zone has a current account deficit (projected) of $260 billion with the world this year. The United States’ current account deficit of $650…
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…