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July 30, 2009

China
repegged The Yuan

China has long pegged its currency to the Dollar.  After the USD started to depreciate against many currencies in 2002, expectations emerged that China would move away from a tight dollar peg.  Fol…

October 15, 2017

Iran
Mrs. Clinton and the Trump Nuclear Decision

Hillary Clinton is now complaining that President Trump has broken America’s word with his policy on the Iran nuclear agreement, the JCPOA. For reasons I will explain below, this is a subject on whic…

August 30, 2016

China
Real-effective-CNY The 2016 Yuan Depreciation

The Bank for International Settlements’ (BIS) broad effective index is the gold standard for assessing exchange rates. And the BIS shows—building on a point that George Magnus has made—that China’s c…

October 11, 2017

China
Three Items of Note Three Items of Note

Often one of the best ways to get noticed is to highlight something a bit surprising. A data point that doesn’t match expectations for example. Puerto Rico’s large trade surplus for example, which…

January 13, 2014

Middle East and North Africa
Ariel Sharon, R.I.P.

Former prime minister of Israel Ariel Sharon was buried today. In Commentary Magazine, I offered my thoughts about the passing of a man I worked with closely during his years as prime minister, and …

September 22, 2017

Thailand
A Follow-up on the Thai Baht A Follow-up on the Thai Baht

Most countries intervene to limit appreciation, not directly to depreciate their currency. And limiting appreciation is a problem when the country has a large external surplus.

September 19, 2017

China
China's August Reserves China's August Reserves

For the past fifteen or more years, if not longer, the flow of foreign exchange in and out of China has never quite seemed to balance. Either the yuan was a one way bet up, and the PBOC had to buy fo…

September 5, 2017

Trade
Looking Back at the Impact of Real Exchange Rate Moves on Exports Looking Back at the Impact of Real Exchange Rate Moves on Exports

G-3 exchange rate moves over the past four years have had expected impacts on trade flows

June 27, 2013

Cybersecurity
A general view shows booths at the 2013 Computex exhibition, the world's second largest computer show, in Taipei World Trade Center on June 3, 2013. (Pichi Chuang/Courtesy Reuters) Sharone Tobias: Internet and Press Freedom in Taiwan

Sharone Tobias is a Research Associate for Asia Studies at the Council on Foreign Relations. Earlier this month, Taiwanese Internet advocacy groups succeeded in shutting down an anti-piracy bill sim…

August 23, 2017

Monetary Policy
G-3 Coordination Failures of the Past Eight Years? (A Riff on Cœuré and Brainard) G-3 Coordination Failures of the Past Eight Years? (A Riff on Cœuré and Brainard)

The world would be in a better place today if the ECB and BoJ had joined the Fed in quantitative easing early on. Their lag in easing contributed to the policy gap that led to the dollar's large 2014…