Michael Pettis

2/2 important American economist who was among the first to understand the implications of excess savings on capital flows and monetary conditions. His "The United States in the Orient" (written mostly in the 1890s) is a book I often re-read.

1/2 Very interesting piece by Nic Johnson on the history of the institutional development of the dollar as an international currency. I am especially pleased that he focuses so much on the work of Charles Arthur Conant, a largely-forgotten but very...

1/9 Good article, although we should have been seeing these several years earlier, when it first became clear that an unsustainable increase in SOE and local-government debt was embedded in China's growth model.

Very informative article by @KeithBradsher on vice premier He Lifeng, whose very contradictory experiences range from running Xiamen to running Tianjin.

1/7 Interesting article. It notes that developing countries around the world, "including India, Mexico, Vietnam, Cambodia and the Philippines are competing on subsidies, tax breaks and other perks... [link] via @WSJ