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…
November 21, 2004
Capital FlowsGetting agreement from the Paris Club creditors to write off 80% (in stages) of the $40 billion or so that Iraq owes them is no doubt a good thing -- not the least because it lets the US (and Iraq) p…
June 30, 2005
Capital FlowsThe CNOOC bid presumably is motivated by two things. One, Beijing has plenty of cash, and already holds more Treasuries than it wants, so it wants to diversify its portfolio. As I argued earlier, C…
January 30, 2006
Emerging MarketsOr spread compression when spreads have already compressed. As David Altig kindly noted, I was quoted in Clint Riley's Wall Street Journal story about the impact of a flat yield curve on bank earning…
February 22, 2006
Capital FlowsMaybe the US would be better off if China owned Unocal's Asian oil fields Not economically. Unocal's oil and gas fields are presumably worth a bit more now than they were last summer. But strategic…
April 24, 2006
Patrick Smith seems to be based in Hong Kong, so I guess I can forgive him for thinking I work for the IIE (the Institute for International Economics). The IIE is a great place, but they , alas, don…