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September 6, 2005

China
China’s capital controls and the RMB

Today China is spending about 1% of its GDP a month to keep its currency from appreciating - it is on track to spend about 15% of its GDP fighting appreciation this year.  And unless something change…

October 25, 2007

Monetary Policy
Central banks are buying — not selling - dollars.

Central banks are not selling dollars.  Some analysts tend to put a bit too much emphasis on changes in the dollar’s share of global reserves – and a bit too little emphasis on the increase in total …

April 18, 2019

India
Development and the Indian Elections

General elections for India’s lower house of  parliament began on April 11 and will last through May 19, with all ballots counted on May 23. This is the world’s largest democratic exercise. I had the…

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March 4, 2021

Global
The President's Inbox Episodes by Topic

A comprehensive list of each episode of The President's Inbox organized by topic. 

Resolute desk

March 27, 2005

United States
The financing of the US current account deficit

2004 Current account deficit: $666 billion2004 Net FDI outflow: $133 billion2004 Net portfolio equity outflow: $63 billion (TIC data); $37 billion (BEA) data. The difference seems to stem from diffe…