The Calm Before The Exchange-Rate Storm?

Core dollar exchange rates have so far been surprisingly stable during the pandemic, most likely because major central banks’ policy interest rates are effectively frozen at or near zero. But although the current stasis could last awhile, it will not last forever. Read Here | Project Syndicate

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The Many Trails Of Ant Group

When the last of the big four state-owned Chinese banks listed a decade ago, one could be forgiven for thinking that the age of mega Chinese financial listings was over. After all, with financial services being such a strategic sector for the Chinese Communist Party, who would have thought that the state’s stranglehold over banking and […]

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How Wall Street Became A Cult Of Risk

Policymakers need to ask what Wall Street’s mighty money machine exists for in the first place. Should the financial business exist primarily as an end in itself, or should it be, as in the original meaning of “finance,” a means to an end? …When finance becomes an end in itself, the public is liable to […]

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China’s Debt Bomb

It’s a bomb! A mountain! A horror movie and a treadmill to hell! To doomsayers, China’s $25 trillion pile of public and private debt is a threat to the global economy. Or maybe it’s just a manageable byproduct of the boom that created the world’s second-biggest economy. Read Here – Bloomberg

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The Nation Obama Built

Over the past seven years, Americans have heard an awful lot about Barack Obama and his presidency, but the actual substance of his domestic policies and their impact on the country remain poorly understood. He has engineered quite a few quiet revolutions—and some of his louder revolutions are shaking up the status quo in quiet […]

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What Europe Should Learn From Asia’s Crisis

Asian leaders could be excused a degree of exasperation over the ongoing Greek mess. China’s slowdown and stock-market chaos are worry enough; the last thing the export-dependent region needs is a Europe in chaos. Worse, European leaders seem intent on misreading or ignoring lessons from Asia’s own brush with collapse. Read Here – Bloomberg

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