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April 10, 2006

China
China worries the US may want a “competitive” dollar

Xia Bin, head of the financial research institute at the cabinet's Development Research Centre, didn't use Martin Feldstein's clever term though.  He worries about a weak dollar policy."W…

July 19, 2006

China
Chinese growth accelerates, RMB depreciates

That was yesterday’s headline.   Or, given the time differences, perhaps the headline from two days ago. Chinese second quarter growth picked up to 11% plus.  The only real surprise here was that the…

December 6, 2006

China
Yu Yongding is well-worth reading on sterilization — as is the Bank of New York on plans for a goverment investment fund

Martin Wolf’s series of columns on China has stimulated quite an interesting debate. I have been meaning to highlight it for some time – especially since it prompted Yu Yongding to lay out both his t…

October 10, 2005

Emerging Markets
Pakistani earthquake

The potential loss of life from the earthquake in Northern Pakistan is stunning -- a reminder of how precarious life is for many in one of the world's nuclear states.  Not to mention a state wher…

April 11, 2007

Emerging Markets
It is hard for the world to diversify away from the dollar when the world’s holdings of dollars need to rise by about a trillion a year

OK, I probably should strike “world” and insert “the world’s governments” instead.  It is pretty clear that central banks and oil investment funds provided the bulk of the financing the US needed in …

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August 9, 2007

China
The balance of financial terror, circa August 9, 2007

Back in early 2004, former Treasury Secretary Lawrence Summers highlighted the emergence of what he termed the "balance of financial terror."   China – and others – relied on the US for demand that t…

April 28, 2008

Financial Markets
$120 oil and the rise of the Gulf

The Economist put the Gulf on its cover this week. It isn’t hard to see why. The Gulf was booming with oil at $ 60 a barrel. It is roaring with oil at close to $120 a barrel. Consider the follow…

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September 23, 2008

Financial Markets
Sharing upside and downside risk ...

Sovereign wealth funds have invested about $35b in US financial institutions. Adding in Qatar’s investment in Barclays and Singapore’s investment (through the GIC) in UBS brings the total up sover…

June 29, 2008

Financial Markets
It is good to be the king (of oil)

If oil stays at $140, the Gulf -- based on projections that imply GCC spending and investment will rise so that the GCC needs $55 to $60 oil to cover its import bill -- the big GCC funds and central…

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February 5, 2010

India
India’s Rise: The Role of the Diaspora

My long-standing friendship with Prime Minister Manmohan Singh began when we were both students in Cambridge in the mid-1950s. One personal anecdote in particular underlines dramatically why the Indi…