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…
April 28, 2006
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…
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 …
May 2, 2006
Financial MarketsTo Russia. In 1998, Russia was very short on cash. It went to the IMF and got a $15 billion credit line. When it didn’t hold up its end of the bargain – taking steps to collect a bit of revenue – t…
May 27, 2006
Emerging MarketsIs the lesson of the most recent bout of turmoil in the emerging world “emerging market economies have changed, but the markets have not”?How have emerging economies changed since 1997, the last time…
June 25, 2006
Financial MarketsEmerging market economies with overvalued currencies now – generally speaking –have less overvalued currencies. The Turkish lira was too strong at the beginning of the year. Turkey’s current accou…