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November 21, 2003

United Kingdom
Hoge: Bush’s Image and Message Likely Enhanced by Trip to Britain

Warren Hoge, the chief London correspondent for The New York Times, says that as a result of his trip to Britain, President Bush “has certainly improved his image” overseas. What remains t…

August 12, 2005

United States
The June trade data. Changes in relative prices do matter

The June trade deficit -- $58.8 billion -- was a bit bigger than the market expected, and quite a bit bigger than the May deficit ($55.4 b).   Annualized, it works out to a $706 billion trade deficit…

November 26, 2006

Monetary Policy
Does China’s (de facto) dollar peg limit China’s capacity to diversify its reserves?

The dollar hasn’t recovered from the Thanksgiving sell-off.   At least not in Asia.   The won is not as strong as it has been since Korea's own crisis back in 1997.   Those with dollar exposure –…

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 …

April 4, 2007

United States
The income balance — the new driver of the US current accout deficit?

Many analysts believe – extrapolating from the q4 data and the stabilization of the non-oil trade deficit – that the US current account deficit has peaked.  Stephen Jen is the most prominent example,…

niip_06

May 18, 2007

China
Exchange rates don’t matter. At not least not the RMB/ dollar …

Sometimes it seems that the larger China’s current account surplus – and the bigger the share of the US current account deficit financed by China’s government – the more insistent the Economist becom…

November 21, 2005

China
Keith Bradsher demolishes the myth that China is a great market for American goods

The money quote in Bradsher's article in last Friday's New York Times comes from Matthew Crabbe: "The only US-produced items that I can think exist in large quantities in China are dollars bi…

March 25, 2008

Monetary Policy
Record reserves, Record reserve growth, record reserve currency angst -

Over the past several weeks: Thailand’s reserves topped $100b. Thailand, lest anyone forget, basically ran out of cash reserves back in 1997 (counting its forward commitments) - sending a clear …

March 29, 2006

China
Exit Schumer and Graham, Enter Grassley and Baucus

Schumer-Graham won't be brought to a vote until September.   China's central bank governor Zhou must  be persuasive.  Maybe he plotted out where the RMB will likely be if China continues with…

December 13, 2007

Financial Markets
Euro-yuan-dollar diplomacy

Europe to China: Please do not buy any more euros.EU economic and monetary affairs commissioner Joaquin Almunia said China should not take any steps to increase its euro reserves at the moment.  Aske…