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November 3, 2004

Economics
the best recovery money can buy

One interpretation of the results of the US election is that Ray Fair’s model (am having trouble with the interface, so no link -- it is available on nouriel’s web page in the elections section) was …

February 26, 2005

Capital Flows
Geoeconomics: What can we learn from the end of the “real” Bretton Woods system of fixed exchange rates?

Dan Drezner started a post with the Triffin dilemma, so I figure I too can digress into the realm of history.The Bretton Woods system of fixed exchange rates (Bretton Woods 1) collapsed, in some sens…

April 15, 2005

United States
First the President tells China that it is holding a bunch of worthless IOUs …

And now he tells China it really should revalue, in far stronger language than the US (or the G-7) has used before.It seems like Tim Adams, the incoming Treasury Under Secretary for International Aff…

August 4, 2005

Capital Flows
Nation Building 101

Make sure the army gets paid on time.The reformed Iraqi Ministry of Defense, a crucial element of any American plan to withdraw troops, is riddled with crippling problems that have raised concerns ab…

February 28, 2006

China
Read Richard McGregor’s FT article on China

I follow the data coming out of China pretty closely, at least for someone whose linguistic limitations crimp any long-term ambitions to be a professional China Watcher.     Not every article on Chin…

May 2, 2006

Financial Markets
And the money keeps rolling in …

To Russia. In 1998, Russia was very short on cash.  It went to the IMF and got a $15 billion credit line.  When it didn’t hold up its end of the bargain – taking steps to collect a bit of revenue – t…

April 4, 2006

United States
Bill Gross, no longer the bond king …

Bill Gross of PIMCO certainly seems to think foreign central banks matter - despite the arguments from some in the Fed (and the Treasury).Foreign central banks made famous and in fact prosperous by t…

June 14, 2006

Financial Markets
The shifting balance of oil power

The Wall Street Journal has noticed that the state is no longer in retreat from the commanding heights of the global economy.  The basic pattern of capital flows is now set by central banks, not priv…

September 6, 2006

Politics and Government
Are all beneficiaries of trade diffuse and unorganized?

DeLong argues that the beneficiaries of trade – both of the conventional goods for goods trade and the new goods for IOUs trade – are diffuse, and often don’t even realize how much they are benefitin…

December 14, 2006

China
Paulson in Beijing: Can’t get no satisfaction

That is what William Hess argues in Newsweek International.  China cannot give Paulson what he wants without jeopardizing its domestic goals.  Hess writes:"Secretary Paulson will likely return home e…