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June 17, 2005

Emerging Markets
Oil at $58. A bit on the global savings glut too

Oil closed above $58 a barrel on Friday. That’s kind of high. Kevin Drum nicely summarizes the range of explanations that have been put forward to explain oil’s recent rise. I tend to agree with h…

June 29, 2005

Capital Flows
Selling off little pieces of yourself

If the US wanted to fund its current account deficit by selling equity, it would need to sell off the equivalent of 40 Unocal’s a year -- whether Chinese state firms, European firms, Japanese insurer…

July 18, 2005

China
If your reserves are growing by $300 billion a year

China indicated its reserves have increased to $711 billion at the end of June -- up $101 billion from the end of December 2004. Actually, they are up more than that. China transferred $15 billion …

July 11, 2005

China
China posts a $9.7 (call it 10) billion trade surplus in June

The $10 billion monthly surplus in June puts China on track for an annual trade surplus of $100 billion or more.The data brought China’s trade surplus for the first half of the year to $39.65bn, alre…

August 5, 2005

Capital Flows
China, the US and the geopolitics of oil

The CNOOC Unocal saga is over. But CNOOC's ambitions remain: Energy market experts now expect Cnooc, which is controlled by the Beijing government, to explore opportunities throughout the Asia-Pa…

July 19, 2005

Calculated Risk might want to start looking at the Netherlands

Calculated Risk has long argued that those wanting to peer into crystal ball and see the future of the US economy should look at Britain -- since Britain’s housing boom started before the US boom, an…

June 28, 2005

United States
More wisdom from Martin Wolf

Having laid out the problem on Monday, Martin Wolf offers his solutions in tomorrow’s Financial Times. He presents three answers to the question "what is to be done"One answer is: nothing. Let each c…

June 20, 2005

United States
Setser and Roubini respond to Levey and Brown: deficits do matter

The current issue of Foreign Affairs contains the rebuttal that Nouriel and I wrote to the David Levey and Stuart Brown’s "Current account deficits do not matter" article that appeared in the March/…

July 29, 2005

China
Words of Wisdom from Ted Truman

It is always worth paying attention to what Ted Truman - former director of the Federal Reserve's international staff, and former Assistant Secretary of the Treasury -- is saying. And right now h…

August 1, 2005

Capital Flows
The real issue, of course, is who comes after Abdullah.

King Fahd has not been running the world's largest family owned petrol station for some time now. And right now, the Saudi royal family does more than run the  central bank of oil.  Saudi oil is…