Larry Summers – picking up on a phrase perhaps first used by Michel Camdessus -- liked to call the Mexican crisis the first financial crisis of the 21st century.   Mexico’s decision to exhaust its re…

Here is my list of the top five stories of 2007 - and some things that I’ll be watching in 2008. What did I miss?1. The "subprime" crisis. The credibility of Wall Street’s financial engineering …

In 2007: China’s government added $430b to its foreign exchange reserves. Russia’s government added $150b to its foreign exchange reserves. China’s state banks likely - this is the only…

I personally would say no.  And I am not alone.  Tan Wei of mergermarket.com reports (in the FT) “a source familiar with the Chinese government’s thinking … who has direct access to the Chinese g…