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November 14, 2005

Financial Markets
Who is financing the US - A Quick Update

What do China, Russia, Malaysia, Saudi Arabia and the other Persian gulf oil sheikdoms have in common?Quite a lot, actually: All have significant current account surpluses.  China's surplus is al…

December 30, 2005

Things I got wrong in 2005

Alas, this list is rather long.   There is a reason why Mike Dooley ended the first segment of our Econoblog debate by noting that he had been right (and I and other worry warts had been wrong) for 2…

July 17, 2006

Financial Markets
If the IMF wants to be relevant in the debate on global rebalancing ….

It needs to be willing to issue yellow—and even red – cards to countries running a balance of payments surplus, not just countries running a deficit. I applaud the IMF’s willingness to criticize …


May 16, 2007

Financial Markets
The great oil spending spree of 2006 (and 2007)

I am a fan of the IMF’s new regional outlooks.   They generally provide more timely – and more topical – information about the major regions of the world economy than either the WEO or the country le…

January 18, 2008

Monetary Policy
The new (financial) world order

In 2007: China’s government added $430b to its foreign exchange reserves. Russia’s government added $150b to its foreign exchange reserves. China’s state banks likely - this is the only…

December 23, 2007

Capital Flows
A Saudi investment authority?

The FT broke a major story -- at least in my world -- late on Friday. The Saudis are about to set up a sovereign wealth fund: Saudi Arabia plans to establish a sovereign wealth fund that is expecte…

April 6, 2008

Financial Markets
Just how much money do sovereign wealth funds have?

A ton, according to Morgan Stanley’s Stephen Jen and a host of Wall Street investment banks Not all that much, according to Milken Institute’s Christopher Balding (as reported by Bob Davis in the Wa…


June 29, 2008

Financial Markets
It is good to be the king (of oil)

If oil stays at $140, the Gulf -- based on projections that imply GCC spending and investment will rise so that the GCC needs $55 to $60 oil to cover its import bill -- the big GCC funds and central…


June 6, 2011

United States
The True Threat of Terrorist Safe Havens

Afghan President Hamid Karzai presents U.S. Defense Secretary Robert M. Gates with the Ghazi Wazir Mohammad Akbar Khan Medal, Afghanistan's highest governmental award, in Kabul, Afghanistan, June…

The True Threat of Terrorist Safe Havens

July 21, 2011

Nonproliferation, Arms Control, and Disarmament
PSI: A Model for Multilateral Action?

A member of the Australian Navy searches a ship playing the role of a vessel carrying suspected materials during a naval drill of the Proliferation Security Initiative Exercise (PSI) at Yokosuka port…

PSI: A Model for Multilateral Action?