Tags: hot money

Speculation, not Trade, is Supporting the Renminbi

June 6th, 2011
in Op Ed

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What is driving the increase in the RMB-denominated trade is probably not any preference to transact in RMB but rather speculative demand for RMB. more »

Tags: china, current account, exports, hong kong, hot money, imports, michael pettis, renminbi, speculation, trade, trade imbalance

Foreign Dirty Money in the U.S.

March 18th, 2011
in Op Ed

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The amount of dirty money that is attracted into the United States on account of the secrecy facilities it provides: US$3 trillion. Yes, three trillion dollars. more »

Tags: agustin casrsten, chatham house, drugs, financial secrecy index, geithner, hot money, illicit trade, irs regulations, mexico, nicholas shaxson, oil.dirty money, robert goulder, royal institute of african affairs, tax justice network, treasure islands