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Follow the Money

Brad Setser tracks cross-border flows, with a bit of macroeconomics thrown in.

Latest Post

All Sound and No Fury? Will The Trump Administration Get Tough on Currency in April?

A number of Asian countries could be designated as manipulators in the U.S. Treasury's April foreign exchange report. And unlike the politically motivated designation of China last summer, there would be a clear analytical justification for a new round of designations. Read More

January 6, 2020

China
More Trade Destruction than Trade  Diversion Right Now More Trade Destruction than Trade Diversion Right Now

Earlier in the year, there was a plausible argument that Trump's tariffs were mostly just diverting U.S. demand to other markets. But in recent months imports from China and imports from the United States' other trade partners are both falling. And the fall in imports has brought the non-petrol trade deficit down significantly from its levels this summer, though perhaps not permanently.

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December 20, 2019

Economics
Am Taking a Few Days Off. Back in 2020 ...

Happy Holidays, and if it fits, Merry Christmas.

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December 17, 2019

United States
It is Time to Change How We View Foreign Direct Investment It is Time to Change How We View Foreign Direct Investment

FDI is increasingly driven by tax avoidance.

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