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June 27, 2005

China
Martin Wolf makes sense (the Economist does not)

Martin Wolf’s FT column makes a number of crucial points:1) Asia has let undervalued exchange rates (and reserve accumulation) substitute for policies to promote domestic demand. The (growing) back…

Blog Post by Brad W. Setser Follow the Money

July 18, 2005

China
If your reserves are growing by $300 billion a year

China 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 …

Blog Post by Brad W. Setser Follow the Money

July 21, 2005

China shifts to a basket peg

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…

Blog Post by Brad W. Setser Follow the Money

July 29, 2005

China
Words of Wisdom from Ted Truman

It is always worth paying attention to what Ted Truman - former director of the Federal Reserve's international staff, and former Assistant Secretary of the Treasury -- is saying. And right now he is…

Blog Post by Brad W. Setser Follow the Money

August 15, 2005

United States
The puzzling global flow of funds

I am less impressed by the June TIC data than the markets.   Yes, foreign purchases of US corporate debt skyrocketed, but foreign demand for Treasuries disappeared.  Total "private" purchases of US d…

Blog Post by Brad W. Setser Follow the Money