There's renewed market attention on global imbalances as governments have showed again they're worried and the U. S., without saying it has a weak dollar policy, is making clear it would like a lower dollar.
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The ability to send a 'sell' order that roils markets may not give China a veto over U. S. foreign policy, but it surely does increase the cost of any U. S. policy that China opposes.
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Anything that makes your attempt to buy an asset more risky can have a material effect on the amount of investment we get. These days, we'd be lucky if we get lots of foreign direct investment. We should not restrict it. We should make it easier.
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He's one of the most brilliant people I've ever met.
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