We update our model for the USD/CNY fix, concluding that USD/CNY could still fix lower for some time, given that the RMB in trade-weighted terms is st

We dig deeper into services exports, and consider what the growing importance of services trade will mean for the global economy. Using a new dataset

The striking slowdown in world trade growth over the past five years has been the subject of much research. In the first of a two-part series on trade

We provide some background for the discussion on taxing foreign held income. We document the size and nature of reinvested earnings that US-based firm

Weak business confidence has been a critical transmission channel' We quantify the impact of dwindling confidence