October 9, 2019Taiwan
Based on the profits and losses disclosed by Taiwan’s central bank, it appears that its true FX exposures exceed its disclosed foreign exchange reserves by USD 130bn, and perhaps by as much as USD 20…
October 8, 2019Taiwan
Who is on the other side of the massive ($250 billion) hedging need of Taiwan's life insurance industry? The local banking system covers at most a quarter of the life insurers hedging need, and forei…
July 17, 2018South Africa
Cyril Ramaphosa, president of South Africa since January, was a close colleague of Nelson Mandela and regularly associates himself with the Mandela legacy and seeks to restore the late president’s values as South Africa’s lodestar.
October 4, 2019Taiwan
Large-scale purchases of foreign bonds have become the central flow sustaining Taiwan’s massive current account surplus and keeping the Taiwan dollar weak. The size of this flow raises the question o…
September 30, 2019Energy and Environment
Negotiations on a Global Pact for the Environment are poised to produce a nonbinding political declaration. Ecological catastrophes, meanwhile, continue to unfold across the planet.