Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
June 29, 2005
Capital FlowsIf the US wanted to fund its current account deficit by selling equity, it would need to sell off the equivalent of 40 Unocal’s a year -- whether Chinese state firms, European firms, Japanese insurer…
March 15, 2006
Emerging MarketsJustin Lahart writes well; I stole the "feeding the hand that bites you" line from him. It is a good one.The US tells China (oops, CNOOC) that it cannot buy Unocal, even though Unocal's energy asset…
April 30, 2006
In case you haven't noticed, the dollar is now closer to 1.30 (v. the euro) than 1.20 - or even 1.15. Carry is no longer king. There is talk of a "regime change" in the fx market. Or at least an …
December 6, 2007
Emerging MarketsIn James Clavell’s Noble House, there is a scene where a fictional Scottish trading house operating in colonial Hong Kong ends either a run on its bank or a run on its stock (or maybe both – I forget…
January 12, 2008
Capital FlowsThe children of China’s revolution have turned into capitalists. The China Development Bank now apparently aspires to be a commercial bank, not a policy bank limited to helping finance investment in …