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September 23, 2004

United States
US Treasury was for a global growth deficit before it was against it

The U.S. Treasury needs to get its talking points straight. It is hard for the Treasury to argue that the world economy is doing very, very well (the IMF forecasts global growth to be at a 30 year h…

October 27, 2004

Financial Markets
Morgan Stanley: China does not rely much on export led growth

Sometimes you read something and it makes you stop, because it is at odds with your existing sense of how the world economy is working. Drossos and Kinbrough’s argument that China does not rely on a…

November 4, 2004

Renminbi falls, hits new low in trade weighted terms?

Remember, that is also what dollar depreciation against the Euro, pound, swiss franc and other currencies means. If you think what China really, really needs right now is an even weaker currency …

November 6, 2004

Politics and Government
Bush considering to a tax hike for most Americans?

Isn’t that what a revenue neutral flat tax or a national sales tax implies, particularly one that exempts investment income from any taxation? (as Cheney reportedly is pushing). In all honesty, it …

November 6, 2004

Will Japan be able to stay on the sidelines for long?

Some facts: 1) In 2003, Japan increased its reserves by $200 billion, emerging Asia by $245 billion. The world as whole increased its reserves by $500 billion, so Asia accounted for most of the worl…