| Last updated: Apr. 18, 00:00 | Page 4 of 5 |
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Money is one of humanity’s greatest inventions. But crises of credit have been with us since ancient times.
By James Grant, the editor of Grant’s Interest Rate Observer, is the author of “Friends Until the End: Edmund Burke and Charles Fox in the Age of Revolution.”
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Beijing has used loans to developing nations to expand its influence, but a new study says no country has received more Chinese financing than the United States. In all, Chinese state-owned firms have provided $2.2 trillion in loans and grants around the world since 2000, a figure two to four times larger than previously thought, according to Brad Parks, the lead author of a report that AidData released on Tuesday, which draws on information from more than 30,000 projects in over 100 countries.
By Alexandra Stevenson
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The great economist John Maynard Keynes once proposed an international system to eliminate trade surpluses and deficits. Now the ‘Mar-a-Lago Accord’ aims to bring that idea to life.
By Ed Conway, economics editor of the news channel Sky News in the U.K. and the author, most recently, of “Material World: The Six Raw Materials That Shape Modern Civilization.”
The postwar Swiss economy was largely driven by high-value exports like precision tools and watches. This worked well in the Bretton Woods system of fixed exchange rates that defined much of the postwar era. But when U.S. President Richard Nixon suspended the conversion of dollars into gold in 1971, currencies gradually began to “float” against one another. The dollar went into a steep decline.
By Bloomberg
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| Last updated: Apr. 18, 00:00 | Page 4 of 5 |


