It is a real toss-up as to which generates more bizarre comment in the international press: Beijing’s long-feared dumping of US Treasuries, or the use and value of the PBoC’s central bank reserves. The revelation last week that Chinese holdings of US Treasury obligations fell in December by $34.2 billion, to $755.4 billion, generated a …
Read More…Tags: wages
Hooray! China has bottomed out.
Note: In response to many complaints by people who were confused by the headline — I was being sarcastic. Puerile humor, perhaps, but the point is that over the last year it seems that we hit absolute bottom roughly every fifth week. Have we reached a bottom? A lot of analysts are pointing to the …
Read More…Should China raise wages?
There is a very interesting graph on page 14 of the World Bank’s December 2008 Quarterly Update on China. I am not smart enough to figure out how to reproduce the graph but I will describe it. It shows private consumption and wage share in China as a function of China’s GDP, from 1993 to …
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