My nomination for the single number that best captures the state of total’s world economy -- and a key risk going forward: The annual increase in central banks dollar reserves.It is not exactly a num…

What is good for IBM (oops, Lenovo) is good for America.OK, that is a cheap shot.Yesterday’s Wall Street Journal published a column by Jon Hilsenrath that drew on work by Diana Farrell and the McKins…

And now he tells China it really should revalue, in far stronger language than the US (or the G-7) has used before.It seems like Tim Adams, the incoming Treasury Under Secretary for International Aff…

China’s exchange rate peg has attracted a lot of attention recently, in the market, among the public and in the press. (also here, here and many other places)Alas, too much of the commentary seems t…

The interest rate on the 10 year Treasury note is somewhere between 4.0-4.1% -- and the US seems to be having no trouble financing its current account (or its budget) deficit right now. The risk of…