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May 28, 2005

A prediction: China will eventually protect its agricultural sector

You know, the global norm is not free trade in agriculture ... If China doesn’t want its peasants to compete against subsidized US and European agricultural exports, I suspect that it has a range of …

June 14, 2005

China
How to explain China’s success?

If China were growing slowly, there would be no shortage of potential explanations.Free labor market in China? Not even close. The household permit system is an enormous impediment to free labor mo…

August 1, 2005

China
Summarizing China in one paragraph …

is hard, but James McGregor gave it a go in the Sunday Washington Post: It is difficult to overstate the transformation that has swept China in the past 15 years. To frame it in terms of comparable h…

August 24, 2005

United States
Are we ignoring the United States’ strengths?

Anantha Nageswaran of Libran Asset Management in Singapore has submitted a set of (lengthy) comments that respond, in some sense, to many of the points I and others have raised on this blog.   Check …

September 16, 2005

Economics
Happy (late) blog birthday

It has been a bit over a year since I started doing this.   I did not anticipate the blog would generate half the audience it has.   I often have focused on relatively obscure topics: the global bala…

January 11, 2006

China
China’s December trade

The most impressive part of China's most recent trade data:  18% y/y growth in December exports.  That pushed China's monthly exports up to $75.4 billion, and laid the basis for a $11 billion…

February 5, 2006

United States
Is national income accounting biased against the US?

In a fake news classic, Rob Corddry and Jon Stewart of the Daily Show once pondered how to report "the facts" when "the facts themselves were biased."  Michael Mandel seems to think the facts are bia…

April 3, 2006

China
Grassley-Baucus-Adams? And (another) long rant about the Economist …

The Treasury doesn't want to declare China to be guilty of manipulation.   Picking a fight with one of your biggest creditors isn't smart.  Right now, no one is buying more US debt (China buy…

Grassley-Baucus-Adams?  And (another) long rant about the Economist …

April 10, 2006

China
A shortage of labor in coastal China is a good thing

Unless, I suspect, if you are a Hong Kond textile magnate.  I don't entirely agree with Stephen Roach's argument that the US should thank China for its cheap financing so long as the US doesn…

May 11, 2006

China
I must be the least dovish of all China doves …

I have been quoted rather extensively in the past few days on Treasury’s foreign exchange report – And in this debate, you are either a dove or a hawk.   Doves (Roach) don’t think that the US sho…