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Browsing Tag
currency wars
BBC: Why you should care about the ‘currency wars’
The BBC's economics editor Stephanie Flanders released this nice little 3-minute video which explains why the so-called currency wars are something you should care about. For me, it is quite significant that South Korea of all countries,…
QE2 and the Titanic
China reported an October trade surplus of $27 billion Wednesday. This is a very big number and not one likely to soothe anger directed at China. It will be very hard for China credibly to argue that it is trying to contribute to global…
South Korea proposed 14% withholding tax puts spotlight on ‘currency war’
Bloomberg notes:
South Korea may revive a 14 percent tax on domestic Treasury and central bank bonds held by foreigners as early as January to curb foreign-exchange volatility, a ruling party lawmaker said.
“If we don’t do it right now…
On The Problems Obama Will Encounter Defending QE in Seoul and Other Links
Topic of the Day: Problems with QE mounting US accused of forcing up world food prices | Business | The Guardian QE2 inflates commodities, threatens 70s-styled malaise - International Business Times G20 finds common ground…
Thoughts on the G-20 given the so-called currency war
The heads of state of the world's twenty largest economies are set to meet in Seoul, South Korea to discuss the global economy. The so-called currency war will be of particular interest during this session because of an escalation in…
Does Ben Bernanke Believe The Stuff He Writes?
James Galbraith was on Yahoo! Tech Ticker talking about Fed policy. The quote he made that caught my eye was this one in response to whether the Fed Chairman Bernanke believes what he says and writes: "Well, one thing you can…
Brazil: “The last time there was a series of competitive devaluations. . . it ended in world…
“It’s no use throwing dollars out of a helicopter,” Guido Mantega, the finance minister, said on Thursday. “The only result is to devalue the dollar to achieve greater competitiveness on international markets.” At a joint press…
Will trade action bring back American jobs?
by Michael Pettis In the debate about global trade imbalances, we often hear it said that because Americans produce nothing that China exports to the US, any move to restrict Chinese imports to the US would have no employment effect on…
QE Proving a Success But Emerging Markets Respond
Andy Lees of UBS writes that quantitative easing is having the (designed) effect of diluting and transferring US debt elsewhere. It is already a success. In a morning note he tells us: Yesterday Saudi shifted its oil price target…