In The News

Wen Warns Against Renminbi Pressure

Alan Beattie, Joshua Chaffin, Kevin Brown October 7, 2010
With the world’s largest population and concentration of manufacturing, China cannot revalue the renminbi quickly, contends Wen Jiabao, China’s premier. And pressuring China to do so could lead to global economic “disaster” is his assessment as reported by the Financial Times. Currency revaluation would lead to job loss and social unrest with Chinese firms already operating on narrow profit...

Why the Financial Crisis and What Is the Way Out

Carmen Reinhart October 7, 2010
In an interview with Nayan Chanda, Professor Carmen Reinhart, co-author of This Time Is Different: Eight Centuries of Financial Folly, discusses the causes behind the current financial crisis and the measures needed to recover and grow. – YaleGlobal

Bangladesh, “Basket Case” No More

Sadanand Dhume October 5, 2010
With the 1947 end of British colonial rule in India, Muslim-majority territories were created as a separate state, broken into East and West Pakistan. The eastern wing, more than 1000 kilometers from the west, pursued autonomy. At the end of a bloody war of resistance backed by Indian independents, Bangladesh emerged in 1971. Since then, the nation has pursued economic development, forswearing...

Asia's Currency Market Shakeup

Philip Bowring September 30, 2010
The economies of Asian nations are growing, but currency coordination throughout the region could provide greater certainty and boost. China is not alone in manipulating currency values, points out Philip Bowring for the Asia Sentinel. With China imposing strict controls on yuan bonds that could raise the value of renminbi, Japan, South Korea, Taiwan, have little choice but to try suppressing the...

Chinese Investors Flock to London to Buy Real Estate

Julia Werdigier, Bettina Wassener September 29, 2010
An influx of wealthy Chinese are snapping up high-end London properties. Representing 5 percent of buyers and growing, they are favored by brokers for paying in cash in an effort to evade Chinese capital regulations. To cash in on the influx, brokers hire Mandarin and Cantonese speakers and even open offices in China; some buildings omit the number four, considered unlucky by Chinese. The...

Asia’s Clouded Horizon – Part II

Yoichi Funabashi September 29, 2010
With new emerging economies and dispersion of power, the world can no longer depend on one or a handful of superpowers to manage problems, more so when small ones reduce the cooperation required for resolving global challenges. A recent example is the diplomatic spat between China and Japan after a fishing captain struck a patrol vessel near islands with disputed ownership. In the second article...

New EU Rules Target Countries with Export Surpluses

Christian Reiermann September 29, 2010
European Commissioner for Economic and Monetary Affairs Olli Rehn has announced a proposal to monitor finances of member nations, particularly any trade imbalances, issue warnings and eventually impose fines on those with “chronic” export or import surpluses. The reason behind the strict reviews, notes journalist Christian Reiermann, is that trade imbalances threaten stability of the euro. “If...