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December 19, 2004

Plaza, or Louvre?

The 1985 Plaza accord sought to drive the dollar down; the 1987 Louvre sought to keep the dollar from falling further. There is growing talk of a new Plaza in the US -- though not in the circles tha…

September 16, 2011

Diplomacy and International Institutions
Friday File: The Palestinian UN Statehood Gambit

Palestinians take part in a candle light rally to show support for the Palestinian bid for full United Nations membership on September 15, 2011. (Ammar Awad/courtesy Reuters) Above the Fold. The Pal…

Palestinians take part in a candle light rally to show support for the Palestinian bid for full United Nations membership this month, outside the Church of the Nativity, in the West Bank town of Bethlehem, September 15, 2011. REUTERS/Ammar Awad

October 9, 2007

Financial Markets
Outsourced (the United States’ strong dollar policy)

Alan Ruskin of RBS Greenwich capital makes an important point in the Financial Times.  The US has effectively outsourced its strong dollar policy to the emerging world.    It isn't even clear that th…

July 15, 2006

Capital Flows
A new club of creditors …

Andrew Rozanov – a senior manager in the official institutions group of State Street Global Advisors – thinks America’s creditors in Asia and the oil producing world should create a club (sort of lik…

September 7, 2007

China
Is China selling its Treasuries?

Combine two data points The August fall in Treasury holdings in the Federal Reserve Bank of New York’s custodial accounts (the data is released weekly here); andThe very modest increase in China’s re…