The renminbi (RMB)'s entry into the SDR is an important milestone for both China and the world. While it will enhance China's diplomatic prestige and benefit the economy, it also presents challenges for Chinese policymakers.
This thorough, fascinating account of the international conference that culminated in the 1944 agreement to maintain stable exchange rates skillfully places it in its economic and geopolitical context. Although the author presents no boldly original interpretation of Bretton Woods, he offers excellent insight into the tribulations of the key players.
The recent scandal that led Swiss National Bank chairman Philipp Hildebrand to resign highlights the difference between what is legal and what is ethical. The law tells us what we “can and cannot do,” whereas ethics tells us what we “should and should not do.”
The European sovereign debt crisis has been occupying a disproportionate amount of investor mindshare over these past many months. Yet there is another potential debt crisis in Europe that is receiving… READ MORE ›
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