The free fall of the economy has stopped. The economy is still contracting but slowly. We should continue with fiscal stimulus and we might need a second one.
—Nouriel Roubini
Notes on identity from the Guardian
Now comes Stage 4: the slog
NYT: Leonhardt
it’s still the traditional news portals who tend to break the news. Blogs followed up the stories an average of 2.5 hours later
Cornell Researchers
the effects of noncompete clauses extend far beyond the world of intellectual property. They reduce movement in the labor force – which serves the immediate interests of established employers but discourages entrepreneurship.
Boston Globe
We should have a better system for reserve currency issuance and regulation, so that we can maintain relative stability of major reserve currencies exchange rates and promote a diversified and rational international reserve currency system
—Dai Bingguo, said Chinese state councillor at the G8, according to the Chinese foreign ministry, via FT
There may come a time in the future when we think that a small, modest exposure to the renminbi – notwithstanding it being a non-convertible currency still – may be something that we may pursue. But we don’t have any plans at this moment, any concrete plans… A bit of diversification won’t hurt us.
—Joseph Yam, chief executive of the Hong Kong Monetary Authority
Stilltitled 