The IMF needs to focus on China’s external account in its surveillance. The reported current account surplus appears to be significantly too low.

The multilateral development banks need to develop a second channel for mobilizing the world’s under-utilized special drawing rights (SDRs).

Some fundamental problems with the IMF’s Common Framework for debt restructuring have become apparent. Not the least, debt restructuring shouldn't just be an issue for low-income countries.

The rest of the world has a big stake in whether China responds to the demand drag from its construction and real estate slump with looser monetary policy or with direct stimulus to households.

China's reserves has shifted its dollar reserves from Treasuries to Agencies, and made increased use of offshore custodians. The available evidence suggests that it still holds about 50 percent of it…

A deep dive into the techniques China used to hide its foreign exchange reserves over the last twenty years 

For other countries that scramble to find resources to repay their debts, it is inconceivable that the United States, which borrows in its own currency at low rates from investors around the world—vo…