The yuan halted a three-day slide after China’s central bank raised its reference rate for the first time since Tuesday’s devaluation and said it will intervene to prevent excessive swings. [Reposted from Bloomberg Business  |  August 13, 2015] The onshore spot rate rose 0.11 percent, strengthening in the final minutes of trading for the third…

A CPA member wrote to Cong. Susan Davis to ask her to oppose Fast Track Trade Promotion Authority.  He received this note in response. Thank you for writing to me about your concemswith the Bipartisan Congressional Trade Priorities and Accountability Act (TPA) and the Trans Pacific Partnership (TPP). This is an incredibly important issue, and…

China is ruled by a party that calls itself Communist, but its economic reality is one of rapacious crony capitalism. And everyone has been assuming that the nation’s leaders are in on the joke, that they know better than to take their occasional socialist rhetoric seriously. [Reposted from The New York Times  |  Paul Krugman …