My answer is no. If the IMF is irrelevant (I don't think it is), it is not because private capital inflows to emerging markets have rebounded to pre-crisis (i.e. 1996/97) levels.  It is because emerg…

So asks Andy Mukherjee of Bloomberg.  He wonders if IMF efforts to get China to allow its exchange rate to appreciate significantly would have exactly as much impact over Chinese policy as IMF effo…

And it intervenes in a big way in both the spot and the forward market.  But it doesn't manipulate its currency.  At least not technically.   The US Treasury - in a widely telegraphed move - decided …

The standard discussion of the unbalanced world divies the world up into three: the US, Europe and Japan/ Asia.   And the standard discussion of global imbalances says all three need to do their part…

The Governor of the China's Central Bank said pretty much all the right things at Davos - at least from my point of view.    China does need to base its growth far more on domestic consumption.  And …