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…
March 9, 2005
Monetary PolicyThe dollar is under a bit of pressure today. The renminbi keeps falling too. The logic behind China’s tight peg to the dollar continues to elude me. The US dollar needs to depreciate as part of an…
May 12, 2005
United StatesThe market seems to have concluded that there is no need to put any pressure on the US to reduce its large external deficits. The dollar is up, at least against the euro. So is the renminbi for th…
July 12, 2005
United StatesMichael Mandel thinks I am making a big mistake, albeit a very, very common one - worrying about rising US external debt rather than celebrating rising US household wealth. Brad is making the very…
July 18, 2005
ChinaChina indicated its reserves have increased to $711 billion at the end of June -- up $101 billion from the end of December 2004. Actually, they are up more than that. China transferred $15 billion …
July 21, 2005
But the change against the dollar is small. Very small. Too small in my view to have much of an economic impact, in any way. On trade flows. Or on capital flows. I would still bet on a furth…