The US could learn something about monetary discipline and pro-capitalistic tax policies from a couple of unlikely sources: China and Russia.

As we continue to walk our economic tightrope between recession and recovery, in many people's eyes one of the biggest factors keeping us upright continues to be China.

Is there a bubble in China?

Over the past few weeks, there have been a few developments in China that I'd like to comment on here. Floating Chinese currency passes the swim testFirst off was the market-moving news about three weeks ago that the Chinese had decided to abandon the currency peg that sets the exchange rate between the yuan and the dollar. Although the Chinese were careful not to say precisely what the new currency regime would entail or how much the...