317 Results for:

April 6, 2005

Monetary Policy
Sometimes, it is worth listening to what policy makers in emerging economies are saying

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…

August 17, 2005

Emerging Markets
Fuel subsidies (and fuel shortages) in emerging economies

If you care to head to Baghdad - and are willing to wait in line - you can fill up your car with premium gasoline for 3.3 cents a liter (around 13 cents a gallon).  Basic gasoline goes for just more …

October 31, 2005

Monetary Policy
In an attempt to be fair and balanced

Here is a link to a paper by two IMF economists (Aizenmann and Lee) that concludes China really is building up its reserves as a precaution against a crisis, not just to support its export sector (im…

In an attempt to be fair and balanced

April 13, 2006

Financial Markets
Abridged Roubini on oil at $70 — and not-so-abridged Setser on Petrodollars

A condensed version of Dr. Roubini's latest post:"I was wrong about the impact of $40 oil, but I'll be right about the impact of $70 oil."I know Dr. Roubini was wrong about the impact of $40 …

Abridged Roubini on oil at $70 — and not-so-abridged Setser on Petrodollars

April 25, 2006

Bad optics

Many have noted that the White House botched the stagecraft of Hu's not-quite-a state visit.  Forget Falun Gong.   Focus on announcing China's national anthem as the anthem of the "Republic o…

March 14, 2006

United States
The 2005 (and 2006) current account deficit

The 2005 current account deficit: $805 billion. or 6.4% of US GDP That is a bit smaller than I expected.    The q3 deficit was revised down.  Reinsurance payments were higher than initially foreca…

January 27, 2006

United States
Imports surge, GDP and exports don’t …

The market thinks that the (bad) q4 GDP number is old news; the economy is looking far better in q1.   The market is also banking on stronger export growth to help support US growth in 2006.  See Jus…

April 10, 2006

China
A shortage of labor in coastal China is a good thing

Unless, I suspect, if you are a Hong Kond textile magnate.  I don't entirely agree with Stephen Roach's argument that the US should thank China for its cheap financing so long as the US doesn…

January 19, 2006

Financial Markets
The global flow of oil

The health of the US economy - and for that matter the world economy - hinges on the sustained flow of capital from the world's emerging economies to the US.   The health of the US economy also d…

September 8, 2006

Monetary Policy
Watch out China, you may soon be (financially) out-gunned …

China’s July reserve increase – at least if the end-July total of $954.5b that the Chinese leaked is right (Lex had a slightly higher number) – was pathetic. A measly $14b.  Not the manly $20…