I have a lot of sympathy for what Chinese regulators have done with respect to the sale of derivatives by Western financial institutions to Chinese investors (companies, individuals, funds, etc.). The article makes a veiled reference to the implications that it would have for the internationalisation of the Chinese currency. But, that is best ignored.
The [...]
Countries where quality of life has improved the most since 1990. Believable?
A truly bizarre decision.
(update: this comment in TIME and the slideshow produced with the aid of photoshop are well worth a look)
Rising and persisting unemployment, falling purchasing power of the currency and top-heavy income concentration not good news for domestic peace prospects.
Will be useful [...]
President Obama has ended the suspense on the re-appointment of Bernanke. Subject to Congressional hearings and approval, Bernanke looks set for a second term as the chairman of the Federal Reserve. The President cited his temperament as one of his strengths. Perhaps, there is something to that. But, as for his judgement, reading Stephen Roach’s [...]
Wall Street Journal carries an interview with Jim O’ Neill of Goldman Sachs on the BRIC resilience. The four BRIC countries collectivley contribute to 15% of global GDP, 5% more than what Goldman Sachs first predicted in 2002, for the end of the decade. More here.
Iin the PEW Annual Global Attitudes Survey, American President gets [...]
I like this comment (’Obama’s Gorbachev Moment’) by Prof. Simon Johnson and Peter Boone in NY Times’ ‘Economix’ Blog.
They recommend end to rent-seeking, end to dependence on China-funded deficit and debt and end to dependence on Saudi assistance on holding the crude oil price low. [More here]
We know the answers to the first two already [...]
On April 2nd, there is a meeting of G-20, to be held in London. George W. Bush held one in mid-November, after the Presidential elections. The then President-elect Obama skipped it. This time, he will be the centre of attention. Mr. Martin Wolf of FT had made an attempt at drafting his speech. My reactions [...]
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