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International efforts, such as the Paris Agreement, aim to reduce greenhouse gas emissions. But experts say countries aren’t doing enough to limit dangerous global warming.
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September 1, 2011
Climate Change
Separating Fact from Fiction on Keystone XL
Opposition to the Keystone XL pipeline, which would move diluted bitumen from the Canadian oil sands to the Gulf Coast, has come into full force over the past couple weeks, with over five hundred peo…
May 22, 2005
Financial Markets
That strong renminbi (ok, that strong dollar)
The RMB has appreciated by about 7% against one of China’s major trading partners this year. Not the US, obviously. But that doesn’t mean that China is not exposed to moves in the dollar-euro, or t…
April 2, 2009
Monetary Policy
Summitry, change and the global financial architecture
About three months ago, the editors of Finance and Development (an IMF publication) asked me to reflect on the lessons the effort to reform the international financial architecture in the 1990s holds…
December 3, 2008
China
Should the currency of the country with a large and growing trade surplus and large and growing reserves depreciate against the dollar?
On Monday China apparently decided to allow the renminbi to depreciate against the dollar. Let’s be clear: China generally still has to intervene in the market to keep its currency from appreciat…
March 24, 2009
Monetary Policy
China’s call for a new international financial system
I spend a lot of time tracking -- or trying to track -- what China is doing with its reserve portfolio. I consequently tend to interpret the public statement of China’s government through the lens o…