Forty-three years after Richard Nixon made his famous visit to China, that country has seemingly decided to take a page from the former U.S. president’s Treasury Department. As China lowers the value of the yuan, the country’s economic policy makers are mimicking the blasé attitude of Nixon-era Treasury chief John Connally, who dismissed international complaints […]
It’s easy to moralize Greece’s feckless borrowing, weak tax collection and long history of default, and hey, go ahead; I won’t stop you. But whatever the nation’s moral failures, what we’re witnessing now shows the dangers of trying to cure the problems of weak fiscal discipline with some sort of externally imposed currency regime. Read […]
Americans bought almost $1 out of every $5 worth of goods that China exported in May, the highest share since August 2010. While Chinese shipments to trading partners including Japan, Europe and South Korea tumbled last month from a year ago, those to the U.S. climbed 7.8 percent. That helped make America the destination for 18.8 […]
Differing views have been expressed in the debate on who is going to be the biggest US creditor. However, it is certain that China and Japan will remain as the top 2 creditors for the foreseeable future. Read Here – Global Times
Often overlooked in the tumult of Washington’s foreign policy debates is the remarkable consistency of U.S. foreign and trade policies over time. This is due to one immutable factor: American national interests. When U.S. policy moves away from our national interest, not only does it cease to serve its primary purpose, but it becomes unstable […]
The internationalization of China’s currency is underway, albeit with some important hurdles still to clear. Read Here – The Diplomat
The coming months will see no end of obituaries written for the emerging world, and of the perils they face. There is nothing new about these prognostications, and they all miss the glaring realities of democratic transformation and its sometimes tumultuous consequences. They miss as well the degree to which hundreds of millions have seen […]
Central banking isn’t a contact sport like football, or even cricket. But the head of India’s central bank, who until recently was living and working in the U.S., is throwing some sharp elbows at his counterparts at the Federal Reserve. This is as close to a brawl as you’re likely to see in the genteel […]
The U.S. unemployment rate fell to 7 percent in November, the lowest since November 2008, raising questions about how much longer the Fed will keep fueling the economy with monetary stimulus. Read Here – Businessweek Let It Ride – The Economist
Yes, Bitcoin is what some call a deflationary currency. Because the system was designed to allow the creation of only a finite number of bitcoins, there will come a point where, as demand rises, the value of the currency will only go up (making the price of goods and services fall, hence the term deflation). And that could […]
