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May 12, 2005

United States
The sustainability of the current account deficit, once again

The market seems to have concluded that there is no need to put any pressure on the US to reduce its large external deficits. The dollar is up, at least against the euro. So is the renminbi for th…

April 5, 2009

Sign of strength or evidence of weakness? China’s dollar reserves

On Friday, Paul Krugman interpreted China’s call for a new reserve currency as a sign of weakness: “But Mr. Zhou’s speech was actually an admission of weakness. In effect, he was saying that China …

Sign of strength or evidence of weakness?  China’s dollar reserves

April 24, 2006

RGE pays my salary, not the IIE — and I am not exactly a true believer in dark matter

Patrick Smith seems to be based in Hong Kong, so I guess I can forgive him for thinking I work for the IIE (the Institute for International Economics).  The IIE is a great place, but they , alas, don…

January 18, 2017

China
China’s WTO Entry, 15 Years On

Late last year Tim Duy asked for an assessment of the decision to allow China to join the WTO, now that 15 years have passed. Greg Ip met the call well before I did, in a remarkable essay. But …

china-intervention-reserve-accumulation

April 13, 2007

China
China. On track to add $500b to its reserves in 2007, heading toward $2 trillion fast …

Please allow me a bit of latitude.  China won’t add $500b to its reserves in 2007 for the simple reason that the central bank will sell some of its reserves to the state investment company.  Moreover…