Tim Adams - the new US Treasury Under Secretary - thinks so: IMF Article IV requires that the IMF exercise "firm surveillance" over the exchange rate policies of members. After the collapse of the Br…

Larry Summers – picking up on a phrase perhaps first used by Michel Camdessus -- liked to call the Mexican crisis the first financial crisis of the 21st century.   Mexico’s decision to exhaust its re…

It is rather hard to read Andrew Browne’s report of the building boom in Zhengzhou in last week’s Wall Street Journal --- or for that matter many other accounts of China’s current investment boom – a…