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February 17, 2005

The Achilles Heel of Cowboyeconomics

The Wall Street Journal says everyone in the world would benefit from a dose of Cowboyeconomics. You know, exporting tons of debt, to support consumption growth well in excess of income growth ... …

April 18, 2005

Financial Markets
Tactical Issue Linkages

Dan Drezner has an interesting post up, laying out the components of a "serious" approach to encouraging (or pressuring) China to change its exchange rate peg. He nicely lays out the options, thoug…

August 3, 2005

Monetary Policy
Are US companies to Bretton Woods 2 …

What gold was to Bretton Woods 1?In the post war Bretton Woods system, the dollar was - at least in principle - fully convertible into gold at a fixed rate.   In practice, after a certain point in th…

May 6, 2005

Economics
The Neiman Marcus economy powers on …

Luxury retailers are doing better than retailers that sell to poor folks ... that probably reflects the difference between those who are trying to get by on stagnant wage income in the face of higher…

November 24, 2005

China
Tim Adams of the US Treasury has a sophisticated China policy but …

the tone of this Economist article (particularly in the last few paragraphs) seemed a bit off - though it is far better than the Economist's leader, which somehow fails to assign any responsibili…

April 20, 2006

Economics
The world would be a somewhat better place if …

The policy makers gathered in Washington this weekend listened to Martin Wolf's advice.  And skimmed his powerpoints.   Everyone with authority in the global economy read Gian Maria Milesi-Ferret…

May 10, 2006

United States
Self promotion watch (Treasury foreign exchange report edition)

I was interviewed by Adam Davidson of NPR about the Treasury’s forthcoming foreign exchange report (to be released at 4 pm today). You can hear the results here.    Adam Davidson also interviewed the…

August 24, 2006

China
My testimony on China - and the Bergsten/ McKinnon debate …

I had the opportunity to testify before the US-China Economic and Security Review Commission on Tuesday – on a panel with C. Fred Bergsten and Professor Ronald McKinnon of Stanford.   It is q…

November 19, 2006

China
Almost unimaginably large

Those are the worlds Robert Rubin used to describe the US current account deficit. They also are words that could easily be used to described China’s current account surplus.  Nick Lardy thin…

March 13, 2007

China
Forget multilateral coordination; let China do it

Fred Bergsten has long advocated in favor of a bit more exchange rate coordination – both to limit volatility and to try to avoid large misalignments among the major currencies.   Right now, the most…