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June 18, 2008

Financial Markets
Why has the dollar tended to go down as oil goes up?

I did a podcast for cfr.org that presents my thinking on this topic. The simplest reason why oil is up and the dollar is down is that the world economy has been far stronger than the US economy. …

May 26, 2009

Financial Markets
Reforming Global Finance: The Squam Lake Papers

The global financial crisis has revealed serious flaws in regulatory systems worldwide. To explore these flaws and offer guidance on reform, the Squam Lake Working Group on Financial Regulation, a co…

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October 29, 2006

China
Goldman economic research v. the Economist (Drivers of Chinese growth)

I, obviously, liked this week’s Economist article on China quite a bit.  So I really shouldn't still be writing about last week’s article on Chinese consumption growth.  That article argued that cons…

March 23, 2007

Emerging Markets
Chindia (or maybe not)

The similarities between China and India have seized many (see Martin Wolf's column and the resulting discussion).   Both China and India have enormous populations -- and enormous scope to increase t…

February 3, 2008

United States
What “adjustment” means

Michael Mandel of Business Week:As of the third quarter of 2007, the 10-year growth rate for consumption was 3.6%, vs. GDP growth for the same period of 2.9%. This difference represents an enormous…