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| 13-04-2010 | The Economic Times |
“WATER does not boil at 99° C, but boils if heated by one more degree,” these historic words of Zhong Shan, vice commerce minister of China, sums up the old-fashioned currency war being fought between the US and China. According to Mr Shan, most exporters absorbed the appreciation in the value of the yuan that followed its revaluat... More » The road ahead for the renminbi |
| 23-03-2010 | The Financial Express |
As the Greek crisis nears some resolution, the question on everyone’s mind is whether a sterling crisis is next on the cards. After all, with high deficit countries in investors’ sights, the pound has fallen to a nine-month low against the dollar and a six-week low against the euro, even as Greece descends into national strikes. A cris... More » Darling and a Greek tragedy |
| 08-12-2009 | The Financial Express |
The current controlled exchange rate of the Chinese yuan/renminbi vis-à-vis the dollar has left the yuan undervalued in terms of purchasing power parity. The IMF has estimated that although the official exchange rate is Y6.8 to $1, it takes just Y3.8 to buy a dollar’s worth of goods. If the yuan were to rise to this level, investments... More » Let the renminbi rise |
| 23-03-2009 | The Economic Times |
Trillion-dollar bailouts, trillion-dollar deficits, and the largest spending bill in US history. No matter how dire the news out of the US, the dollar strengthens. It has carried on rising in spite of new bailouts for two leading financial institutions — Citigroup and AIG — a catastrophic fall in US gross domestic product and more drea... More » Why the US dollar is still resilient |
| 14-12-2008 | The Financial Express |
In his Dickensian tale of the 1980s Wall Street excess, The Bonfire of the Vanities, Tom Wolfe described his bond-trading protagonist Sherman McCoy as a master of the universe. The following decade, James Carville, Bill Clinton's political advisor, said, “When I come back, I want to come back as the bond market because then you can intim... More » The message of 'negative government securities yields' |
