Most of this week’s very long newsletter focused on the NPC meeting in Beijing, the proposals to boost consumption (which I think will greatly disappoint), and the release of data by the National Bureau of statistics. Last week, for example, new lending numbers were released, and if it hadn’t been for rumors all the previous …
Read More…Archive for March, 2011
The dollar, the RMB and the euro?
Barry Eichengreen had a very interesting piece in last week’s Wall Street Journal. In it he argues that we are approaching the end of the period in which the US dollar is the world’s dominant reserve currency, and suggests what that might mean for the world. Here is what he says: The single most astonishing …
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