India remains a mystery to me. I spent two weeks in southern India in January, in Chennai and Kerala. It was the first time I had visited any part of the country although, in the past decade I’ve spent some time in all of the states that border India bar Nepal. I expected to find […]
Robert Fisk’s unsentimental analysis of Assad’s strengths As long as Syria can trade with Iraq, it can trade with Iran and, of course, it can trade with Lebanon. The Shia of Iran and the Shia majority in Iraq and the Shia leadership (though not majority) in Syria and the Shia (the largest community, but not […]
A discursive account by Greg Sheridan in The Australian of a conversation with World Bank President Robert Zoellick on, among other things, China’s development conundrum and the growth of emerging economies as an antidote to pessimism. Zoellick has a team of World Bank economists working closely with the Chinese leadership to help them move on […]
It’s difficult to argue with the Standard & Poor’s assessment of the U.S. fiscal outlook, or with their downgrade of the U.S. long-term sovereign credit rating: We lowered our long-term rating on the U.S. because we believe that the prolonged controversy over raising the statutory debt ceiling and the related fiscal policy debate indicate that […]
The Berlusconi government has announced a package of emergency measures to liberalize the Italian economy that includes a “constitutional” change to speed up the liberalisation of professional services. The measures included a plan to amend the constitution to make a balanced budget mandatory, a second constitutional change that would force “closed professions” to liberalise services, […]
Good sense from a former Chair of the WTO Appellate Body.
“It is in the best interest of both countries to continue negotiating on the currency issue rather than resorting to litigation at the WTO. On this issue especially, litigation should be the last resort.” Extract from James Bacchus in the WSJ
Alhougth I’m sure a lot of trade law geeks like me would like to see Article XV litigated, nevertheless … just to see what it means.
But it’s impossible to ignore the significance of this continuing internationalization of the remminbi.
“Although it has no short-term implications for the full convertibility of the renminbi, the announcement provides ballast to the volley of political signals Beijing has been sending in recent months over its dissatisfaction with the US dollar.” Extract from Financial Times