One of the world’s ironies is that even as John Snow putters on about how currency values should be set by market forces, the market -- or at least the private market -- is now playing a comparativel…

My harping on the fact that US economic policy now has to pass a global test is not simply meant to score rhetorical points. I suspect that the same folks who financed the expansion of the US curren…

So China wants to adopt a basket peg because it no longer thinks the dollar is a stable store of value. To quote Mr. Fan, Director of China’s National Institute for Economic Research:The U.S. dollar …

Rarely do I disagree with the premise of an article more than with the Mark Whitehouse  Friday C1  Wall Street Journal article "China's Move Makes No Waves in Bond Market." Premise.  China moved.  It…

Regular readers know that I am convinced that the pace of Chinese export growth will slow.   That is a bit at odds with parts of the conventional wisdom.  There is a widespread sense that China is th…