Paul Wolfowitz looks to be heading toward the Presidency of the World Bank. He probably was not the first choice of anyone outside the US, not even the UK. But no one seems to see much of an upside…

Altogether, the circumstances seem to be as dangerous and intractable as any I can remember, and I can remember quite a lot. What really concerns me is that there seems to be so little willingness o…

I have always thought the argument that attributed the widening trade deficit to the absence of growth abroad was a bit deceptive, for the simple reason that in aggregate, growth abroad has been quit…

Some Europeans enjoy taking a few rhetorical pot shots at America every now and then. More and more Americans enjoy reciprocating.I suspect that US criticism of Europe will step up a gear in the nea…

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…