Oct 14th, 2010
Earlier this week I had a debate on TV with a local economist on the subject of trade relations. We had the same debate about six and twelve months ago and in each case while I argued that the trade problems were almost intractable and trade relations would inexorably deteriorate levaquin online, he both times [...]
Oct 6th, 2010
Because of US and European pressure Beijing may allow much faster appreciation of the renminbi than it likes over the next year, but this will almost certainly be accompanied with policies that reduce the adverse employment impact. In my opinion the most likely such policy involves credit. If Beijing expands cheap credit, however, it may [...]
Sep 29th, 2010
Levaquin interactions: i am often asked, especially by my Peking University students, to list what I think is the sequence of steps China will take to address its economic imbalances. Remember that rebalancing, in the Chinese context, has a very specific definition. It means raising the consumption share of GDP. This is just a way [...]
Sep 26th, 2010
On Wednesday I will be putting up my piece on the politics of China’s adjustment process, but before doing that I wanted to mention a few recent particles worthy of comment. First, Jamil Anderlinin has a long and interesting article in today’s Financial Times on China’s fast-speed railways. The most interesting part of the article, for me [...]
Sep 22nd, 2010
Generic imitrex: after three weeks of traveling it is good to be back in Beijing, even though now I have to work through the mountain of very fattening mooncakes my very kind students have given me for Mid-Autumn Festival Day. While I was away it seems that there were a lot of rumors in the [...]
Sep 11th, 2010
I apologize for taking so long to write but for the past rwo weeks (and the next five days) I have been travelling for conferences and meetings. I spent last week in Buenos Aires at the 75th Anniversary Conference of the Banco Central de la Republica Argentina, where I gave a presentation on China and [...]
Aug 27th, 2010
Cialis online: on August 8 Credit Suisse published a study they had commissioned by Professor Wang Xiaolu of the China Reform Foundation. A lot of readers have asked on- and offline me to discuss this study in light of the entry I posted two weeks ago about Chinese consumption – and especially to explain whether this [...]
Aug 10th, 2010
There has been a lot of excited press commentary recently about China’s overtaking Japan as the world’s second largest economy. China’s GDP should be larger than Japan’s for the first time sometime this year, which in a similar context in 1987 the Italians called “il sorpasso”. For all the excited search for the deeper meaning [...]
Jul 28th, 2010
A lot of people have asked me to write about the recently “leaked” CBRC report on dodgy local government debt. Here is what the article in Monday’s Bloomberg had to say about it (and note especially that delicious second paragraph): Mainland banks may struggle to recoup about 23 per cent of the 7.7 trillion yuan [...]
Jul 20th, 2010
In the past few weeks I have been getting a lot of questions about serial sovereign defaults and how to predict which countries will or won’t suspend debt payments or otherwise get into trouble. The most common question is whether or not there is a threshold of debt (measured buy cialis online, say, against total [...]
Jul 14th, 2010
Since this is another long posting, it might make sense to summarize briefly its two parts. In the first part, expanding on an OpEd piece of mine published by the Wall Street Journal on Monday, I argue that China’s “nuclear option”, which has generated a great deal of nervousness among investors and policy-making circles in the [...]
Jul 4th, 2010
Order viagra online: just three days after returning to Beijing from New York, I had to leave again, this time to a series of conferences in Torino, Italy, so it is hard to do much writing for my blog, especially since I won’t spend my free time in the hotel when there is so damned [...]
Jun 24th, 2010
With the PBoC’s currency announcement last Saturday and the surge (!) in the value of RMB on Monday (all very kindly timed to add zest to my meetings this week in Boston, New York, and Washington), you would assume that today’s entry would be all about the RMB and the effect of the PBoC announcement. [...]