Earlier this year it was reported that a great many OPEC nations were on track to repay China in oil rather than “dollars.” Reuters had calculated that between $30 and $50 billion of prior loans were to be closed out via each country’s crude capacities. As the price of the black stuff has dropped, however, that leaves them with little [...]
The Chinese exchange rate has traded lower for five consecutive days, and aside from essentially no change last Friday would have been eight in a row. That contrasts with the downward pattern that existed ever since the turn in mid-April where only the general direction was down in not so much a straight line. The slope isn’t dramatic, but it [...]
The Ricardian theory of free trade has dominated economics philosophy for good reason. It has a sound basis in common sense and offers a theoretical guide to understand the nature of exchange from a systemic standpoint. It does not, however, cover all such basis for all such manner of trade. Comparative advantage is somewhat straightforward where nations exchange goods, but [...]
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