Happy Friday!

Happy Friday!

China’s SDR campaign is aimed at domestic reform, not reserve assets

Nikkei Asian Review Link to Article The International Monetary Fund is debating the incorporation of the yuan into the basket of currencies that constitutes the Special Drawing Rights, an international reserve asset created to supplement member countries’ official reserves. But China’s SDR ambitions have much more to do with financing domestic economic reform than with…

Secularly Slower Growth

Summary: Larry Summers has made quite a splash in the economics world with his secular stagnation hypothesis. While I agree with much of what Mr. Summers posits (and in this piece discuss several of the factors also cited by Mr. Summers) I am a bit less pessimistic than he appears to be, thus “secularly slower…

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