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March 4, 2005

Emerging Markets
A few lessons for Mary Anastasia O Grady

I do not expect to consistently agree with the oped page of the Wall Street Journal. But I do not think it is too much to ask that the columnists on oped page of the Journal try to square their argu…

November 28, 2005

China
China still pegs to the dollar …

And it intervenes in a big way in both the spot and the forward market.  But it doesn't manipulate its currency.  At least not technically.   The US Treasury - in a widely telegraphed move - deci…

November 3, 2005

Emerging Markets
Bush has yet to meet a big IMF bailout he does not like …

Steve Clemons is surprised that Bush was not more hostile toward the IMF in a recent pre-Summit of the Americas press gaggle.  I am surprised that Steve Clemons is surprised.After all, as governor of…

November 3, 2005

Emerging Markets
What ever happened to US relations with Latin America?

One of the things that has fascinated me is that US-Latin America relations have soured so much under Bush's watch.  I think I am fascinated in part because I don't really buy the standard ex…

July 26, 2005

China
Andy Xie gives no quarter

Xie to the market (and to the US): Take your 2% and stop telling China to revalue! Here is the difference between Xie and me, put simply. Xie thinks the US is trying to get China to "artificially"…

December 30, 2005

Economics
Things I got wrong in 2005

Alas, this list is rather long.   There is a reason why Mike Dooley ended the first segment of our Econoblog debate by noting that he had been right (and I and other worry warts had been wrong) for 2…

December 8, 2005

United States
Emerging market bubble watch - and a word or two on dark matter

Ecuador is the kind of country that can borrow only when times are really, really good for emerging economies.  It has been and - as far as I can tell - remains politically dysfunctional.   It tends …

May 29, 2005

Europe
Non, and loudly

France has spoken.I don’t have any creative or original thoughts on what the French vote means for Europe, though, like many others, I found Henry Farrell’s thoughts interesting. For those intereste…

December 29, 2005

China
China’s reserves. Why did reserve increase by less than China’s trade surplus in November?

Suppose that you had $800 billion at the end of September. OK, not $800 billion exactly. Let's say $560 billion in dollars, $160 billion in euros (euro 132.7 billion), and $80 billion in yen (yen…

July 28, 2005

Emerging Markets
Argentina has found an easy way to keep its reserves from rising

Pay off the IMF. Argentina is one of the few countries whose reserves have been growing about as fast as China's.  It just started 2003 with about $10 b in reserves (and a ton of debt), whil…