Further reading
From FT: Time for the ECB to get serious about the overvalued euro – Willem BuiterContinue reading »
View ArticleJapan needs more aggression in warding off deflation
By Kumiharu Shigehara Japan‘s economic expansion stumbled by late 2007, and in the context of the global economic crisis, it has been trapped in the deepest recession of the post-war era. Initially,...
View ArticleThe dilemma for the dollar
By Paul De Grauwe The recent decline of the dollar against major currencies such as the euro and the Japanese yen has been spectacular. Even more spectacular, but often forgotten, is the long run...
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Grim truths Obama should have told Hu
Barack Obama, president of the US, met Hu Jintao, president of the People’s Republic of China, for a private meeting on Tuesday. The agenda was long, covering the world economy, climate change and...
View ArticleMartin Wolf answers your questions: Topic eight – Forecasting sterling’s...
In this post for the Financial Times' Economists' Forum, Martin Wolf answers a reader's question on the prospects for sterling in 2010. Continue reading »
View ArticleLocal currency bond markets: Will this time be different?
By Michael Pomerleano As fears of debt disaster swirl around Dubai and Europe, it is useful to take a closer look at local currency bond markets. A recent superb book – This Time is Different: Eight...
View ArticleA stable yuan/dollar rate forever?
By Ronald I. McKinnon Speculation is rife about when, not just if, China should exit from its policy of stabilising the renminbi/dollar rate. The Financial Times editorial policy more generally, and...
View ArticleIndia: External deficit widens but the rupee appreciates sharply!
In March the Reserve Bank of India (RBI) published the balance of payments data for the October-December quarter of 2009. It elicited surprisingly little comment. Surprising, because for the second...
View ArticleUS trade agreements threaten emerging markets’ financial stability
By Kevin P. Gallagher At the recent annual meeting of the Asian Development Bank Taiwan’s Central Bank governor Perng Fai-nan urged emerging market nations in Asia to use capital controls to promote...
View ArticleCurrency wars and Indian policy
Suddenly this month the esoteric world of international finance is resonating to the clash of currencies. On September 27 Brazil's finance minister stated that an "international currency war" has...
View ArticleWe must curb international flows of capital
By Dani Rodrik and Arvind Subramanian First large downhill flows of capital – from rich countries to poor countries – led to the Latin American debt crisis of the early 1980s. In the 1990s similar...
View ArticleThe Fed is delaying the day of reckoning
By Charles Wyplosz In 1971, with the greenback weak and falling, US Treasury secretary John Connally famously told the rest of the world that the US dollar was “our currency and your problem”. Thirty...
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Reserve accumulation and financial stability
By Maurice Obstfeld, Jay C. Shambaugh and Alan M. Taylor Since the early 1990s, central banks in many emerging markets and developing countries have accumulated foreign reserves at an unprecedented...
View ArticleA co-ordinated asset purchase programme: reversing a huge asset deflation...
By Michael Spence The accelerating asset deflation globally is going to cause a deep global recession. The deleveraging process is driving emergency sales of assets, capital hoarding and asset prices...
View ArticleThe US and China: A grand bargain?
By Eswar Prasad Timothy Geithner, in his first foray into international economic affairs as US Treasury secretary, has kicked off a public row with the Chinese by accusing them of currency...
View ArticleChina’s exchange rate policy is the quid pro quo for fiscal expansion
By Ronald McKinnon Tensions between the US and China escalated recently when Timothy Geithner, the new US Treasury secretary, suggested that China might be designated as a “currency manipulator’....
View ArticleFurther reading: The dollar
From the FT: Dave Shellock: Overview: gold hits record high as dollar tumblesRead more
View ArticleFurther reading: Sterling
From the FT: Neil Dennis: Sterling declines after inflation hits 5-year lowRead more
View ArticleThe rumours of the dollar’s death are much exaggerated
It is the season of dollar panic. These panic-mongers are varied: gold bugs, fiscal hawks and many others agree that the dollar, the dominant currency since the first world war, is on its death bed....
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