In view of the current situation of China's huge foreign reserves, this paper puts forward the concepts of foreign reserve management - regular reserve management which focuses on liquidity management, and excess reserve management focusing on security and return. The scale and the currency...

We describe a "business as usual" (BAU) economy in which pollution is a by-product of productive activity by the current generation but "damages" production for future generations. Over time, conditions in the BAU economy become dire: it gets increasingly polluted, consumption falls and...