I was rather busy last week, so I was not able to respond immediately to Michael Mandel's response to my response to his Business Week cover story - and now Micheal Mandel is shooting for slightly bi…

Poor countries tend to have relatively weak currencies – that is, there is a big gap between their currencies' nominal exchange rate and the exchange rate implied by “purchasing power parity.”   Or,…

Louis Kuijs’ latest analysis seems to suggest – based on my reading -- that three common perceptions of China are more myth than reality.     Myth one: foreign direct investment has been a big …

Emerging market economies with overvalued currencies now – generally speaking –have less overvalued currencies.   The Turkish lira was too strong at the beginning of the year.  Turkey’s current accou…

I spend a lot of time thinking about reserves.  And I have long been puzzled by the modest April increase in China's reserves.   China’s trade surplus was solid.  There is no particular reason to thi…