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Has the Fed Abandoned Risk Assets? | Joseph Wang
Forward Guidance
The Importance of Dollar Reserves in the Asian Financial Crisis
I wouldn't put China 2022 in the same category as Vietnam 1997 because it just has so many dollars. If the US raises rates, it usually forces the emerging markets to also raise interest rates. I think what happened is that like you mentioned, China is selling a lot of stuff to the US. The interest rates were a lot higher than US interest rates for the past two years. We have enormous amounts of dollar flows in the China. That probably is being put to you somehow. Maybe their economy is at the place where they should be raising rates now. Actually, they're cutting rates right now. They don't want toRaise rates on their financial good and theydon't want to
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