March 12, 2005
US Debt and the RMB Peg
Last week I was engaged in this discussion over at Coming Anarchy on the topic of "Why do foreigners buy US debt."
For anyone interested in the subject, I strongly suggest checking out the latest post on NYU Professor Noriel Roubini's always excellent Global Economics Blog.
And for anyone who likes what they see, I also recommend his Feb. 7th scathing critique (scroll to the bottom of the Feb. archives to read it) of Presidnet Bush's budget plan.
Here's a small sample of Professor Roubini's take on, "Why China should move its peg and pull the plug on the US reckless policies."
For anyone interested in the subject, I strongly suggest checking out the latest post on NYU Professor Noriel Roubini's always excellent Global Economics Blog.
And for anyone who likes what they see, I also recommend his Feb. 7th scathing critique (scroll to the bottom of the Feb. archives to read it) of Presidnet Bush's budget plan.
Here's a small sample of Professor Roubini's take on, "Why China should move its peg and pull the plug on the US reckless policies."
I arrived today in China for 10 days in the Middle Kingdom: wonky policy conferences, meetings with officials, policy makers, academics and market folks. In my paper with Brad on the unraveling of Bretton Woods 2 and the hard landing scenario for the US, we have argued that it is increasingly in the interest of China to pull the plug on the US as maintaining the peg and accumulating increasing amounts of forex reserves is increasingly costly. The arguments are at least ten...
# posted by Saru : 4:48 PM
