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July 21, 2005

China shifts to a basket peg

But the change against the dollar is small.  Very small. Too small in my view to have much of an economic impact, in any way.  On trade flows.  Or on capital flows.  I would still bet on a furth…

April 28, 2006

Why does China have a looser monetary policy than the United States?

We know why the global economy grew strongly in the first quarter.   Nothing changed.  Or rather, the basic pattern that has driven global growth for the past few years intensified.The US continued t…

February 23, 2006

United States
Selling off pieces of yourself (or not)

The 2006 US current account deficit looks to be a bit under $1 trillion.  $1 trillion sounds big, but remember, the annualized fourth quarter current account deficit will almost certainly be close to…

November 17, 2005

Can the Pentagon balance Chinese power …

with money the Treasury borrows from China?  Ok, China, Russia and Saudi Arabia ... The answer so far has been yes.   The Pentagon - or at least influential voices in the Pentagon - want to discoura…

October 9, 2006

United States
Stephen Jen, Eternal optimist

Apparently, the US fiscal deficit is set to disappear and the US current account deficit has peaked.  At least it has in Stephen Jen-land.  In his latest email Jen writes: “US’s corporate revenues ar…

May 20, 2008

Financial Markets
Good question

Michael Phillips in Monday’s Wall Street Journal: If there’s one message the Bush administration has been trying to hammer home to Chinese leaders, it is this: A major country with a huge trade surp…

January 23, 2009

Monetary Policy
Is the US now more, or less, reliant on China’s government for financing?

Rarely do nominees -- or even Treasury Secretaries -- make news in their written response to questions posed by Senators. But Tim Geithner’s comments on China yesterday tcertainly made news. I m…

August 25, 2010

North Korea
The Cheonan Incident and its Impact on Regional Security

I spent last week at several meetings in Tokyo, Seoul, and Jeju that revolved around the Cheonan incident and its implications for regional security. Some Asia Unbound readers may have the impressi…

The Cheonan Incident and its Impact on Regional Security

November 29, 2010

United States
Egypt’s Elections Mess: Why We Don’t Care

Yesterday’s parliamentary elections in Egypt were pretty bad.  The litany of opposition complaints was long.  As I write, there are 8 confirmed deaths and numerous injured in clashes between the se…

egypt elections democracy

November 29, 2010

China’s Call for Six Party Talks: Cynical or Naïve?

China’s response to North Korea’s artillery shelling of South Korea’s Yeonpyeong Island last week has been relatively rapid compared to the slowness of its response to the sinking last March (it to…

China’s Call for Six Party Talks: Cynical or Naïve?