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…
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…
June 17, 2019International Finance
The U.S. Department of the Treasury should transform its foreign currency report so it can be used as a tool to combat currency manipulation. This would be an important step toward a more balanced global economy with fewer persistent deficits and surpluses.
March 7, 2019Algeria
A bungled leadership transition and continuing economic stagnation in Algeria would have significant ramifications for U.S. counterterrorism interests and regional stability. Washington should take worthwhile to manage the risk of growing political instability, including precautionary measures to safeguard its interests should the worst happen.