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February 8, 2005

Chairman Greenspan: Do Not Worry, Be Happy

The Chairman gave policy makers a green light not to worry about the US current account deficit: the dollar’s existing fall will lead the deficit to turn around. The Chairman’s remarks also seem to …

Blog Post by Brad W. Setser Follow the Money

May 17, 2005

China
So, is the Bush Administration for bashing China or against it?

Let no one think the Bush Administration doesn’t occasionally try to have it both ways. A month ago the Bush Administration ratcheted up the verbal pressure on China. China was ready to change its…

Blog Post by Brad W. Setser Follow the Money

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