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September 1, 2005

Economics
Some thoughts on Katrina and the economy

I understand the reasoning behind the standard argument that big storms have less impact on an economy - particularly a large and diverse economy - than one would expect looking at the scale of the d…

October 28, 2005

United States
Who would sit on today’s “committee to save the world”

That is one of many interesting issues raised by Times selectman Floyd Norris today. As Norris notes, Alan Greenspan never had half the power people thought he had.  All he does is set short-term (cr…

January 31, 2007

United States
Roach on globalization and China

Stephen Roach made three arguments last Friday. I disagree with two of them, but agree with the third.  And the third is by far the most important.   But before getting to the point of agreement, the…

January 28, 2007

Politics and Government
The Davos lie

I am intrigued by a comment the often provacative Larry Summers made at a Davos seminar:Lawrence Summers, the former U.S. Treasury Secretary and Harvard University president, delivered some harsh cri…

August 9, 2007

China
The balance of financial terror, circa August 9, 2007

Back in early 2004, former Treasury Secretary Lawrence Summers highlighted the emergence of what he termed the "balance of financial terror."   China – and others – relied on the US for demand that t…

October 29, 2007

Financial Markets
Does the United States need a new dollar policy?

Former Treasury Secretary Lawrence Summers seems to think so.  The vast majority of the US current account deficit is now being funded by central banks accumulating reserves as they seek to avoid app…

October 21, 2008

China
The end of Bretton Woods 2?

In late 2004, Nouriel Roubini and I wrote that “the tensions created [by the Bretton Woods 2 system] are large, large enough to crack the system in the next three to four years.” In a 2005 Wall Stre…

November 19, 2010

Diplomacy and International Institutions
Friday File: Obama Heads to Lisbon

Above the Fold. President Obama’s scheduler must be nursing a grudge.  Last Sunday the president returned from what had to be an exhausting ten-day, around-the-world trip that took him to four coun…

Friday File: Obama Heads to Lisbon

January 15, 2011

China
Hu Cometh

U.S. President George W. Bush and Chinese President Hu Jintao watch members of the Old Guard march during a welcoming ceremony on the South Lawn of the White House April 20, 2006. (Kevin Lamarque/Cou…

U.S. President George W. Bush and Chinese President Hu Jintao watch members of the Old Guard march during a welcoming ceremony on the South Lawn of the White House April 20, 2006.

March 16, 2011

China
Does the United States Have the Leverage to Press China to Become a Full Global Health Donor?

Mexican soldiers unload boxes with medical aid donated by China at the airport in Oaxaca, Mexico on May 5, 2009. (STR New/Courtesy Reuters) On March 11, I had a debate with Ambassador Jack Chow of C…

Mexican soldiers unload boxes with medical aid donated by China at the airport in Oaxaca, Mexico on May 5, 2009.