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Blogs

Follow the Money

Brad Setser tracks cross-border flows, with a bit of macroeconomics thrown in.

Latest Post

China, Credit, and the Current Account

The Financial Times—in a leader arguing that China should continue to try to wean itself off shadow credit—argues that credit led growth has lost efficiency, as it takes much more credit to generate growth today than it did ten years ago: Read More

November 16, 2017

Asia
American Asian Security Allies, Alas, Contribute More to Global Trade Imbalances Than China American Asian Security Allies, Alas, Contribute More to Global Trade Imbalances Than China

One possible U.S. international economic policy towards Asia, broadly speaking, would be to seek to align with Asia’s other economies to put more pressure on China.

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November 6, 2017

Japan
Abenomics and the Long Legacy of the Consumption Tax Hike Abenomics and the Long Legacy of the Consumption Tax Hike

Abe's consumption tax hike stalled what until then had been a demand led recovery, leading to a three year period with no growth in domestic demand. 

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October 30, 2017

United States
Apple’s Exports Aren’t Missing: They Are in Ireland Apple’s Exports Aren’t Missing: They Are in Ireland

Goods made in China flow through Ireland before returning to China, and the many other ways tax influences the balance of payments.

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