“US Treasury’s Currency Report on China is a Case Study in Political Manipulation” By Daniel Griswold, courtesy of Mercatus Center The US Treasury’s semi-annual report issued this week on the exchange rate policies of China and other major trading partners is an exercise in intellectual gymnastics. The report reiterates that China was indeed a currency […]
Tag: devaluation
Argentina’s bankruptcy assured, could default to IMF
“Argentina – ninth national bankruptcy is imminent” By Angelica Dominguez-Cardoza and Cristoph Trebesch, courtesy of IfW Kiel As Argentina’s elections were set to begin Sunday, the state is headed for yet another bankruptcy. The government has borrowed nearly $45 billion overseas in just two years. The country’s debt ratio has nearly doubled since 2015 to […]
Are Central European countries ready for the Euro?
By Zsolt Darvas, courtesy Bruegel Institute Southern European euro-area members suffered from unsustainable developments after they joined the euro in 1999 and up to 2008, and have had great difficulties since. Inadequate national policies were the main causes of these unsustainable developments, but euro […]
How can populism govern without money?
By Agustín Etchebarne, Director, Libertad y Progresso Originally published in Ambito Financiero. Courtesy of Libertad y Progresso. The uncertainty generated by the possible triumph of the Peronist Fernández-Fernández ticket in Argentina is big and impossible to dismiss at the moment. Naturally, the markets […]
Anticlimax In The Antipodes: Retracing Argentina’s (latest) debacle
Argentinean President Maurico Macri’s defeat in the country’s national open primary augurs ill for the beleaguered reformer’s program of fiscal responsibility, which Macri himself has already dispatched with a technical default on the country’s bonds as well as the reimposition of capital and currency […]
Trade wars are hitting global confidence
There is now a serious risk that escalating trade disputes between major global players will tip the world economy into recession, warns the Financial Times editorial board in a new op-ed published Friday. The FT opinion chiefs tally a number of ominous trends as we […]
Argentina can’t shake decades of misgovernment
The election of Mauricio Macri as Argentine president in 2015 was widely viewed as an encouraging development for Argentina and South America generally, as he promised to restore fiscal responsibility, rein in government spending and revive the country’s economic fortunes. But Macri’s administration has encountered […]
Forbes to Zuck: Give Libra Gold Backing
Open letters addressed to Mark Zuckerberg haven’t tended to be encouraging pep talks, but Steve Forbes isn’t interested in lecturing the world’s most powerful nerd – he wants him to make the most of Facebook’s planned digital currency, Libra, unveiled last week. Forbes, a media publisher, onetime presidential candidate, and frequent economic […]