Council of Councils
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Introduction
Over the last several decades, governments have collectively pledged to slow global warming. But despite intensified diplomacy, the world is already facing the consequences of climate…
September 23, 2004
United StatesSteve Johnson’s market insight column in Thursday’s Financial Times keys off Morgan Stanley’s currency strategist Stephen Jen’s argument that "As long as Asia insists on staying inside this dollar ar…
October 13, 2004
United StatesOil above $50 a barrel is not good for the U.S. trade balance. Higher oil prices are a tax on US consumers, with the proceeds pocketed by oil exporters. If oil stays above $50 in November and Decem…
November 19, 2004
Federal Reserve Board Chairman Alan Greenspan was careful to frame the risk created by rising US external debt for foreigners investing in the US (and in the process financing the US current account …
January 30, 2005
Financial MarketsApparently, Mr. Jen thinks the dollar -- despite the United States’ 6.2% of GDP current account deficit -- is significantly undervalued against all major currencies, and fairly valued against most As…
February 1, 2005
United StatesMy nomination for the single number that best captures the state of total’s world economy -- and a key risk going forward: The annual increase in central banks dollar reserves.It is not exactly a num…