Follow the Money | Council on Foreign Relations

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The U.S. Income Balance Puzzle

by Brad W. Setser and Michael Weilandt November 3, 2024

The long-standing surplus in the U.S. investment income account, often cited as evidence of “exorbitant privilege,” is receding. It already goes away without the income from profit-shifting by U.S. multinationals.

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Regions

NAFTA

Oil Production Has Moved North, and Auto Production South

Both Mexico and the U.S. are in a sense adjusting to (mild) oil shocks ...

Blog Post by Brad W. Setser July 26, 2018 Follow the Money

Vietnam

Is Vietnam the New China?

Vietnam appears to be taking a page out of China's post-WTO playbook by intervening to keep its currency weak and its exports strong.

Blog Post by Brad W. Setser July 26, 2018 Follow the Money

China

China’s Currency Is Back in Play

China's currency is getting awfully close to some key levels, levels where in the past China has resisted further depreciation. The signals China sends from here on will be critical.

Blog Post by Brad W. Setser July 23, 2018 Follow the Money

Puerto Rico

Looking Back on Fiscal 2018 as Puerto Rico Starts a New Fiscal Year

Sales tax revenues have recovered. Fiscal year 2019, which started in July, should be a good year thanks to Federal disaster aid. The real question though is what happens when Federal aid starts to fall.