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…

Alan Greenspan told Senators Schumer and Graham that China would soon make its currency regime more flexible, and that they should hold off. They no doubt took "flexible" to mean "let its currency ap…

With the 2004 paper on US external sustainability, there is at least some possibility that Nouriel's and my dire forecasts will prove to be right.   The core argument of that paper is that the contin…

Schumer-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 its cur…

I no longer will be able to make fun of China for letting its exchange rate float between 7.991 and 7.999.   The RMB is now toying with 7.97.  China’s top leadership now seems convinced that maybe…