Or perhaps a complicated combination of both?   That is a question that has popped up over at Martin Wolf’s forum.   It is a keyquestion for the global economy, and for financial markets.Those bettin…

The headline is mine.   Don’t blame Dr. Prasad.   But that is the conclusion I took away from Eswar Prasad’s most recent paper.     I usually write about how China’s exchange rate policy distorts the…

If you read the financial press closely, it was hard not to learn a bit about the Icelandic krona over the past week.   The krona pays a high interest rate, you see - enabling Iceland to attract the …

China's leaders talk of rebalancing the basis for Chinese growth, shifting from exports and investment to consumption.   That makes a lot of sense to me.  China's economy is every bit as unbalanced a…