December 7, 2004
United StatesOr more precisely, one of this year’s Nobel Prize winners in Economics seems to disagree with parts of the analysis Nouriel and I have been putting forward. It seems like Nouriel and I don’t underst…
August 24, 2005
Financial MarketsListen to one Chinese fund manager in this morning's Wall Street Journal: "Mr. Zhu (who helps manage US dollar investments for the Bank of China) expresses confidence in the US dollar and the he…
November 3, 2005
Emerging MarketsOne of the things that has fascinated me is that US-Latin America relations have soured so much under Bush's watch. I think I am fascinated in part because I don't really buy the standard ex…
January 6, 2006
United StatesThe standard discussion of the unbalanced world divies the world up into three: the US, Europe and Japan/ Asia. And the standard discussion of global imbalances says all three need to do their part…
March 29, 2006
ChinaSchumer-Graham won't be brought to a vote until September. China's central bank governor Zhou must be persuasive. Maybe he plotted out where the RMB will likely be if China continues with…
January 28, 2006
ChinaMax Sawicky noted that key source of recent job creation in the capitalist United States has been the US government, which itself is financed, in no small part by the People's Bank of China. The…
January 10, 2006
United States(Dollar) gloom and doom sells. Even if it isn't true.So says Bloggin' Wall Street Folks who worry about the trade deficit are in denial. They cannot accept that in the new (financial globali…
May 27, 2006
Emerging MarketsIs the lesson of the most recent bout of turmoil in the emerging world “emerging market economies have changed, but the markets have not”?How have emerging economies changed since 1997, the last time…
July 26, 2006
Emerging MarketsLast week I was beginning to think the IMF might be back in business. A couple of press reports hinted that Lebanon’s central bank was facing real pressure. Folks fleeing the country wanted doll…
June 6, 2006
ChinaPoor countries tend to have relatively weak currencies – that is, there is a big gap between their currencies' nominal exchange rate and the exchange rate implied by “purchasing power parity.” …