Nouriel and I put pen to paper and laid out our take on China. Our paper reflects on the trip we took there last month, along with the reading we did to prepare for the trip. There is nothing new her…

The RMB has appreciated by about 7% against one of China’s major trading partners this year. Not the US, obviously. But that doesn’t mean that China is not exposed to moves in the dollar-euro, or t…

Reuters has done a nice wrap up of what we know -- and more importantly what we don’t know -- about how China manages its reserves. They correctly note that the TIC data misses so much that it, alon…

Martin Wolf’s FT column makes a number of crucial points:1) Asia has let undervalued exchange rates (and reserve accumulation) substitute for policies to promote domestic demand. The (growing) back…

Having laid out the problem on Monday, Martin Wolf offers his solutions in tomorrow’s Financial Times. He presents three answers to the question "what is to be done"One answer is: nothing. Let each c…