Post Tagged with: "Asia"
Observations Early in the Pacific Century
The economic historian Arnold Toynbee argued that civilization began in the East, expanded around the world, and will return to the East. Even if expressed somewhat differently, many people seem to believe that the 21st century will be a Pacific century. The center of the world economy for the last couple of centuries has been
Yen Drops Back After Japan Comments on Currency; IFO Ahead
From The BBH Currency Strategy Team. Highlights Though concerns about economic growth prospects in major economies are still dominating financial markets after the poor US data yesterday, verbal intervention from Japan’s Finance Minister Noda, Prime Minister Kan, and then FM Noda again finally saw the yen retreat from multi-year highs against the dollar and euro.
Is Brazil Overheating?
Given near universal austerity measures in Europe and thoughts of the same in the US, increasingly it looks like the emerging markets are expected to do the heavy lifting to sustain a global recovery. As I said recently, "for the global economy, it’s China or bust." But, of course, China is not the only major
Manufacturing Sector Demonstrates Global Recovery
We have seen a host of manufacturing sector data over the past few days. Most of it has been pretty good and the data demonstrate that the global recovery has continued. Nevertheless, reviewing the data from the US, Europe, China and Singapore, there are some weaknesses beginning to show which I believe will become more
Asian Central Banks Thought to Have Sold Dollars
Strong upward pressure on the dollar emanating from the European debt crisis and the tensions on the Korean peninsula apparently was countered by intervention from several Asian central banks. At one point the dollar was nearly 5.25% stronger against the Korean won on the day, bringing its advance to more than 13% since May 14.
Euro Weakness Intensifies
Highlights Euro weakness intensifies as we start the week, risk-off trades dominate and the US dollar and the yen are the winners in the current context, still. There was no fresh ‘bad news’ from the EZ, but sentiment is extremely poor, with continued concern over the various austerity measures economic consequences and contagion (see below).
Links: 2010-03-18 – Overheating in Asia and more on China
FT.com – Asia’s inflation genie leaps out of the bottle House prices to fall further as loan arrears rise – Independent.ie TheMoneyIllusion » It’s China’s world, we just live in it (Krugman, round two) More Americans live with multiple generations of family – USATODAY.com FT.com – The weak renminbi is not just America’s problem How
The Pound Suffers while Asian Currencies Gain
Highlights The US dollar is mixed against the major and emerging market currencies. The euro is consolidating in yesterday’s range as bonds stabilize and despite a smaller than expected German trade surplus. Comments from EU spokesperson Altafaj just before the NY open that measures taken by Greece are sufficient have so far failed to take
Stephen Roach: Chance of Double Dip 40%
Here is more of Marc Faber, this time with Stephen Roach joining from Asia. Faber starts things off by making a point I have made many times in the past, namely that the Federal Reserve’s easy money policy is asymmetric; they are quick to cut on the way down, but slow to raise rates on
Asia tells the west to get off its high horse
You kind of saw this coming didn’t you. Asians remember the Depression that began there a decade ago all too vividly. Many still see the West to blame because of the draconian economic policy solutions meted out by the IMF, including now-US Treasury Secretary Tim Geithner amongst others. Incongruously, the very same Tim Geithner of
Mental Midgets and Moral Pygmies
The following is a re-print of the latest monthly newsletter from Niels Jensen of Absolute Return Partners, published with the express permission of the author. Visit www.arpllp.com to learn more about Absolute Return Partners. You can reach the firm by email at [email protected] I have arrived at the fourth and final letter in our series
Geithner: “Market-oriented exchange rates in line with economic fundamentals will be essential”
Is it just me or did Secretary Geithner just talk out of other side of his mouth? Today he wrote an Op-Ed in the Wall Street Journal with two Asian leaders to mark a big meeting of APEC (Asian Pacific Economic Cooperation) in Singapore. The WSJ article started out with a bunch of diplomatic niceties