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March 2, 2008

Financial Markets
Worth less, not worthless

I am glad Mr. Buffet clarified that. Project out last weeks trends for very long and there might be a bit of doubt. Mr. Soros wasn’t as kind. ""The dollar is a terribly flawed currency"Nor, for th…

June 11, 2008

Should SAFE be considered a SWF?

SAFE is China’s State Administration of Foreign Exchange. It enforces China’s capital controls -- and manages the foreign exchange reserves of China’s central bank. Lately though it hasn’t necessa…

August 10, 2008

Value-added in China’s export sector and China’s exposure to a global slump

Mark Thoma linked to a VoxEU article summarizing new work by Robert Koopman, Zhi Wang and Shang-Jin Wei on the "Chinese value-added" of China’s exports. They find that the Chinese value-added in C…


December 5, 2008

Monetary Policy
Reserves are meant to be used in bad times

Tracy Alloway of the Financial Times’ Alphaville blog -- echoing Robert Sinche of the Bank of America -- thinks that spending reserves to defend your own currency and support your own banks is a form…

December 31, 2008

Financial Markets
Relitigating 1998 at the end of 2008

Tyler Cowen argues that the “Committee to Save the World” made a mistake in 1998 by, well, saving the financial world. They thus missed an opportunity to teach the banks a lesson in sound risk-manag…

February 1, 2009

Asia’s two recessions

During the good times, both exports and investment boomed. Indeed, the fact that China ran a large current account surplus even as Chinese domestic investment soared -- something only possible bec…

August 1, 2009

China linkfest

Qing Wang of Morgan Stanley: "Given China’s high national savings rate, from the perspective of the economy as a whole, there are only three forms in which China can deploy its savings: 1) onshore p…

November 13, 2009

United States
Unfinished Business: The Futenma Story

As President Obama gets ready to visit Tokyo, much of the media coverage focuses on the high politics of the U.S.-Japan alliance. Is this tension a temporary affliction caused by the transition in To…

March 1, 2010

South Korea
The United States and South Korea: Challenges and Remedies for Wartime Operational Control

Bruce E. Bechtol Jr. is Professor of International Relations at Marine Corps Command and Staff College. The views expressed in this paper are those of the author and do not necessarily reflect the of…

39th Security Consultative Meeting

May 14, 2010

Climate Change
In Defense of CCS

Bashing carbon capture and sequestration (CCS) is a popular game these days. The latest installment is a Robert Bryce op-ed in today’s New York Times. It presents the standard arguments against CCS w…