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The Chinese Proposal for a New Global Super CurrencySo the process that will lead - in the medium-long term - to a challenge of the US dollar as the major global reserve currency has started. The US creditors - the BRICs, the Gulf states and others - are becoming increasingly alarmed that the US will deal with its unsustainable fiscal path via ...
Giorgio Bertini
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6 months ago
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The next global reserve currencyIf history is any guide, the Chinese renminbi will soon be due to overtake the US dollar, just as the dollar replaced the pound sterling last century. But will the renminbi be ready for reserve currency status? This column discusses the issues at hand and explains why some experts would prefer ...
Giorgio Bertini
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6 months ago
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Gearing Up for the G-20: London Braces for Massive ProtestsMirina Pepper has just been panhandled by a homeless man near London's Liverpool Street Station. She reaches into her handbag and grabs a bundle of £20 notes. "Here, you can give them out," she says. The homeless man looks perplexed at the notes, not knowing whether he should take this as a ...
Giorgio Bertini
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9 months ago
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At the G20 summit, the developing world should end rich countries' ruleThe G20 summit meeting in London on 2 April will have a lot on its plate and will certainly fall short of expectations. There is a world recession – the worst in more than 60 years – and the immediate problem of how to get out of it through fiscal and monetary stimulus, as well as possible ...
Giorgio Bertini
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9 months ago
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Innovation: Learning from China's Banking SystemTaking a page from China's policy banks, the U.S. could set up "innovation banks" that focus on supporting entrepreneurs—and job growth. Wouldn't it be great if you could walk into your local bank branch not to get a loan to help fund your new business idea but to get an equity investment? You ...
Giorgio Bertini
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9 months ago
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Brazil and the U.S.: Reflections on Lula's VisitTo readers: I made closing remarks by way of summary following an event entitled “Brazil: Global Partner in a New Economy” held in New York City on March 16, 2009 and sponsored by the Business Council for International Understanding and Dow Jones. President Lula was in attendance for most of ...
Giorgio Bertini
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9 months ago
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China as an Innovator, Not Just an ImitatorThe last 30 years of reform have brought from the world's periphery to center stage. During each of the last two years, it contributed more in absolute value to world gross domestic product growth than any other country. Even in the midst of the current, China remains one of the few major ...
Giorgio Bertini
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9 months ago
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RGE Monitor's NewsletterRGE Monitor’s team of analysts is in the process of producing updates to the RGE Monitor 2009 Global Economic Outlook published in January 2009. The updated global outlook will be released for RGE clients in the first half of April. Today we discuss some elements of the U.S. economic outlook. B...
Giorgio Bertini
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9 months ago
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The Revolution Has Already OccurredBarbara Ehrenreich and Bill Fletcher write mournfully that there was supposed to be a revolution--but there was and is a revolution, just not one that looks the way socialists and a lot of '60s radicals imagined it. The Sandinista revolution thirty years ago may well have been the last of its ...
Giorgio Bertini
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9 months ago
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Follow Brazil's ExampleThere seem to me to be two occasions, which require two plans for the world left, and in particular for the US left. The first occasion is in the short run. The world is in a deep depression, which will only get worse for at least the next one or two years. The immediate short run is what ...
Giorgio Bertini
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9 months ago