As Chinese policymakers attempt to address what ails their country’s economy, they are pursuing two goals that will almost certainly turn out to be incompatible.Very seldom have central banks been able to maintain a fixed exchange rate over an extended period of time while provid

Currency market volatility has been around for decades, if not centuries.Wide gyrations in exchange rates became a staple of international financial markets after the Bretton Woods system broke down in the early 1970s, and mega-depreciations were commonplace later in the decade a

When it comes to sovereign debt, the term “default” is often misunderstood.