Do not let anyone tell you that China's economy requires a stable exchange rate, and consequently, it must remain pegged to the dollar.    China now trades almost as much with Europe as with the US, …

And it intervenes in a big way in both the spot and the forward market.  But it doesn't manipulate its currency.  At least not technically.   The US Treasury - in a widely telegraphed move - decided …

I tend to agree with Stephen Roach more often than naught.   But every now and again, I do disagree with him.  And I am not convinced that petrodollars, are well, no longer petrodollars.   That is, t…

I am a bit late here, John Berry reported on Martin Feldstein's paper on monetary policy in a world of more integrated global capital markets over a month ago.But it is still interesting to read Feld…

I asked DOR -- an active participant in the comments section of this blog -- to do a guest post on the recent revisions to China's GDP numbers.   He has a real job, so his identity has to remain (som…