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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
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June 30, 2006
United States
DeLong is right. If the US wants to end up like Australia, US trade deficit needs to fall - unless foreigners continue to do terribly on their investments in the US.
As Brad Delong notes, the big difference between the United States and Australia is that the United States has a trade and transfers deficit of close to 7% of GDP. That implies – assuming the sto…
August 1, 2006
Economics
Memo to Mike Mandel: Wal-Mart doesn’t look like it is creating all that much dark matter …
Wal-Mart recently sold itsmoney-losing German operations: Industry observers said Wal-Mart lost about €100m ($127.5m) on German sales of €2bn last year. Results failed to pick up in spite of the clo…
September 21, 2006
China
Why China’s $1 trillion in reserves are unlikely to be of much use in a banking crisis
It is rather hard to read Andrew Browne’s report of the building boom in Zhengzhou in last week’s Wall Street Journal --- or for that matter many other accounts of China’s current investment boom – a…
October 17, 2006
China
A trillion dollars here, a trillion there and pretty soon you are talking about real money
I have written extensively about China and Chinese reserve growth recently. So I won’t use Tuesday’s Wall Street Journal article as the spring board for another long post. Just a sort of long post.T…
December 14, 2006
China
Paulson in Beijing: Can’t get no satisfaction
That is what William Hess argues in Newsweek International. China cannot give Paulson what he wants without jeopardizing its domestic goals. Hess writes:"Secretary Paulson will likely return home e…