A currency with global reserve status can benefit the issuing country. But disadvantages and market decisions cannot be ignored.
Despite market chatter and China's rise, necessary preconditions for an asset bubble in the emerging world haven't surfaced yet.
The financial crisis taught crucial lessons about the dangers of bubbles, loose regulation and debt. It's a pity we didn't learn.
The success of the euro as a multinational currency did not come overnight. And nothing similar is likely to emerge in East Asia.
Japan hasn't sustained growth bounces for decades, nor will it under the DPJ government. Therein lie lessons for other economies.
Japanese foreign reserves and banking clout could not offset volatility's negative impact on the yen's bid for reserve status.
It was silly months ago to compare the global downturn to the 1930s depression. The recession has already turned the corner.
A growing liquidity bubble that ignores structural facts is the basis for today's happy talk about a comeback for the global economy.
China's exporters have suffered in the global downturn, but they've clung to import market share in major economies.
Conditions must be met to qualify a currency for international reserves. The same holds true for an international financial center.
Recession-related U.S. GDP and unemployment rates were somewhat predictable before the latest downturn changed the game.
So many factors are influencing stock market behavior this year that predictions, like the economy itself, are in a state of flux.
Banks loans designed to spark economic recovery have been channeled into asset speculation, doing more harm than good.
As neo-liberalism crumbles in the financial crisis, governments are waking up to the value of old-fashioned industrial policy.
Market chatter over green shoots and rising prices has fueled a bear market rally that won't last, despite policymaker 'noise.'
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