Why a Drop in the Overvalued Yuan Won’t Start a Currency War
A week of mayhem in the financial markets, grandstanding lawmakers on Capitol Hill accusing China of “rigging the rules again”—all because the overvalued yuan depreciated toward a market rate in three dramatic trading sessions. Could we see some evidence of…
The 3-Speed Global Economy Puts US in 2nd Gear
When the International Monetary Fund and the World Bank gather for theirspring meetings in Washington this week, there will be no pressing euro crisis to address, and that is more than one could say a year ago. But we could be…
Japan’s Huge Stimulus Plan: A Bold Roll of the Dice
Young Japanese of 23 has never known anything but a wheezy, punked-out, slump-shouldered Japan—a country that has been in and out of recession and deflation since its famous bubble burst in 1990. Now this is supposed to change—big time. Analysts…
Can Draghi Turn the EU Ship Around in Time?
What a roller coaster ride Europe has embarked upon. A week ago Mario Draghi, the president of the European Central Bank, made his now-famous “whatever it takes” remark in defense of the euro, and the markets bounded upward. Since then…
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