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May 14, 2019

China
China’s Maritime Disputes

China’s growing assertiveness amid territorial disputes in the East and South China Seas has raised concerns about armed conflict.

China’s Maritime Disputes

April 29, 2019

Sub-Saharan Africa
Africa’s ‘Leaders for Life’

Sub-Saharan Africa is home to many of the world’s longest-ruling heads of state, but civil society and regional blocs may be slowing the trend of extending presidential terms in some areas.

A taxi passes an electoral poster for Cameroonian President Paul Biya in a market in Yaounde.

April 24, 2017

Monetary Policy
The Story in TIC Data Is That There Is Still No (New) Story

The basic constellation in the post-BoJ QQE, post-ECB QE world marked by large surpluses in Asia and Europe but not the oil-exporters has continued. Inflows from abroad have come into the U.S. corpo…

The Story in TIC Data Is That There Is Still No (New) Story

April 17, 2017

United States
Currency Wars: China Escapes a Manipulation Charge

On balance, the report reaffirms that, while trade and not exchange rates is likely to be the primary battleground for U.S. economic relations in the future, exchange rates remain a flash point.

Currency Wars: China Escapes a Manipulation Charge

February 18, 2014

Trade
The North American Summit: Robert Pastor's Roadmap for Progress

This week's meeting in Toluca, Mexico between President Obama and his Canadian and Mexican counterparts offers a long overdue opportunity to jump start a new North American agenda. What should it loo…

A monument marks the border between the U.S. and Mexico in Laredo, Texas (Jessica Rinaldi/Courtesy Reuters).

April 26, 2017

Trade
Using Fiscal Policy to Drive Trade Rebalancing Turns Out To Be Hard

The idea behind “fiscally-driven external rebalancing” is straightforward. If countries with external (e.g. trade) surpluses run expansionary fiscal policies, they will raise their own level of de…

Using Fiscal Policy to Drive Trade Rebalancing Turns Out To Be Hard

April 20, 2017

Monetary Policy
The Combined Surplus of Asia and Europe Stayed Big in 2016

A long time ago I confessed that I like to read the IMF’s World Economic Outlook (WEO) from back to front. OK, I sometimes skip a few chapters. But I take particular interest in the IMF’s data tables…

The Combined Surplus of Asia and Europe Stayed Big in 2016

April 10, 2017

Monetary Policy
Does Currency Pressure Work? The Case of Taiwan

I confess that I probably am the only person in the world who—setting aside the internal politics of the Trump White House—would be excited to write the Treasury’s foreign currency report this quarte…

Does Currency Pressure Work?  The Case of Taiwan

April 9, 2017

Monetary Policy
So, Is China Pegging to the Dollar or to a Basket?

Does China manage its currency against the dollar, against a basket, or to whatever is most convenient at any given point time? Cynics have argued that China seems to peg to the dollar when the dolla…

So, Is China Pegging to the Dollar or to a Basket?

April 5, 2017

China
China's 2016 Reserve Loss Is More Manageable Than It Seems on First Glance

Martin Wolf’s important column does a wonderful job of illustrating the basic risk China poses to the world: at some point China’s savers could lose confidence in China’s increasingly wild financial …

China's 2016 Reserve Loss Is More Manageable Than It Seems on First Glance