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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…

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 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 of China"…

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…

September 18, 2006

Monetary Policy
China’s future?

The Bank of Korea is taking ongoing losses on its reserve holdings.    South Korea's central bank may have a loss of as much as 3 trillion won ($3.1 billion) in 2006 because of interest costs from …