Kevin Drum brought the latest National Review "trade deficits do not matter" article to my attention today. I learned a few things, namely that Steven Roach is part of a media misinformation campaig…

Paul Wolfowitz looks to be heading toward the Presidency of the World Bank. He probably was not the first choice of anyone outside the US, not even the UK. But no one seems to see much of an upside…

The Koreans, I suspect, let the cat out of the bag. Korea knows the value of reserves, and the risks of holding too few reserves. Indeed, absent an IMF loan and a last-second deal with their credit…

China now thinks its financial system is ready for a bit of exchange rate flexibility, at least if you believe the China Securities Journal. I am not sure what has changed, but since I -- like the Go…