Three somewhat wonky and technical thoughts:1) Do not underestimate Korea just because it does not hold as many reserves as China and Japan. $200 billion is $200 billion. Moreover, the combined re…

On Thursday, the Financial Times, the New York Times and Tom Friedman all weighed in on Asian reserve diversification. Paul Blustein of the Washington Post has an A1 story today on another of my comm…

The dollar is under a bit of pressure today. The renminbi keeps falling too. The logic behind China’s tight peg to the dollar continues to elude me. The US dollar needs to depreciate as part of an…

The trade deficit fell in March. So did the capital flows needed to sustain ongoing trade deficits. Net inflows of $45.7 billion a month are not enough to sustain even $55 billion monthly trade def…

The Governor of the China's Central Bank said pretty much all the right things at Davos - at least from my point of view.    China does need to base its growth far more on domestic consumption.  And …