China

US President Obama is scheduled to meet Chinese Premier Wen tomorrow on the sidelines of the UN meeting. Reports also suggest a bilateral meeting with Japanese Prime Minister Kan may take place. Even though the meetings will be separate,…

I agree with Michael Pettis that removing Larry Summers from the White House should be construed as a sign that the Obama Administration is poised to take a more populist tone with China. In June I wrote (More on China, Trade and…

by Michael Pettis 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…

Via Bloomberg: White House officials expect Lawrence Summers to leave his job as the president’s National Economic Council director after November’s congressional elections, according to three people familiar with the matter. His…

The economic historian Arnold Toynbee argued that civilization began in the East, expanded around the world, and will return to the East. Even if expressed somewhat differently, many people seem to believe that the 21st century will be a…

Highlights The US dollar is broadly lower to start the new week as the markets respond positively to the somewhat stronger than expected Chinese data reported over the weekend and the Basel III proposals which allow an eight year…

Now that I am back in the saddle, I am going to start doing my week in review narratives again with links to the most newsworthy posts from the past week or so. On second thought, let me actually cover the ground back to the beginning of…

A few years ago, Chris Dialynas and I wrote a piece which introduced the concept of “renegade economics”. It was derived from a Frank D. Graham’s 1943 essay titled, “Fundamentals of International Monetary Policy.” Graham, a Princeton…

by Michael Pettis I apologize for taking so long to write but for the past two 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…

Highlights The US dollar is firm against the safe-haven yen and Swiss franc but is winding down the week on a softer note against the euro, sterling and the dollar-bloc currencies. Most emerging market currencies are firmer too in an…