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March 10, 2024

China
China’s Record Manufacturing Surplus

The U.S. likes talking about the dominance of the dollar. But don’t short-change China’s current dominance of manufacturing trade. Trade imbalances need to be taken seriously again.

Manufactured Goods Surpluses

March 1, 2024

United States
Election 2024: President Joe Biden Delivers His Third State of the Union Address

Each Friday, I look at what the presidential contenders are saying about foreign policy. This Week: Joe Biden will likely stress his domestic achievements over his foreign policy challenges when he a…

Biden SOTU

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 9, 2024

United States
Election 2024: President Biden Criticizes Israel’s Military Operations in Gaza

Each Friday, I look at what the presidential contenders are saying about foreign policy. This Week: Israel’s war against Hamas is creating policy and political dilemmas for President Biden.

Biden Gaza

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 1, 2024

Russia
Mobilizing Russia’s Immobilized Reserves

A quick note on the debate over the use of Russia’s frozen reserves.

Euro banknotes at a money exchange office.

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

January 22, 2024

Economics
An SDR-Linked Bond Can Strengthen the Finances of the World Bank Group

SDR-denominated bonds have the potential to significantly strengthen the balance sheet of both the IBRD (The World Bank) and IDA, freeing up cash and helping both institutions deliver on their mandat…

An SDR-Linked Bond Can Strengthen the Finances of the World Bank Group

December 29, 2023

2023 in Review
Ten World Figures Who Died in 2023

Ten people who passed away this year who shaped world affairs for better or worse.

Sunset