Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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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…
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…
