Top 20 US Progressives: Paul Krugman

Economist.

Some might say that Paul Krugman has it all - a columnist's perch at the New York Times, a professorship at Princeton University, a Nobel prize for economics and nearly 700,000 followers on Twitter. He is not just the world's best-known economist, but one of the most influential, having led the Keynesian fightback against austerity and particularly the Obama administration's 2011 compromise on public spending cuts. On his aptly named blog - the Conscience of a Liberal - the professor rails against the inequities of neoliberal economics, the "wilful ignorance" of the modern Republican Party, Barack Obama's "moderate conservatism" and the US media's destructive "cult of balance, of centrism". His writing is permeated with self-righteous anger; it is, as a profile in the New Yorker once has it, "belligerently, obsessively political". On 12 September 2011, Donald Rumsfeld said that he had cancelled his subscription to the New York Times after Krugman used his blog to describe the anniversary of the 9/11 attacks as "an occasion for shame".

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3 comments

Robert Simonse's picture

The three year renminbi bonds which were sold are known as "dim sum" bonds, and the bank sold RMB 2bn - just under £200m. The sale was timed to occur with the launch of a new working group, backed by Bank of China, Barclays, Deutsche Bank, HSBC and Standard Chartered, which aims to more cum internationalise China's currency and consolidate London's role in the trade. The city currently holds 26 per cent of the offshore foreign exchange renminbi market, and holds RMB 109bn deposits. This remains a fraction of Hong Kong's apartmany RMB 566bn holdings, but London is only fighting for second place in the market, with Singapore its biggest potential rival.

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