Japan is the perfect example of the failure of Keynesian policies.
More government spending only generates more debt and stagnation, and with years of printing, the yen keeps depreciating. Graphs JP Morgan and Bloomberg thru Daniel Lacalle on X
BREAKING 🚨: The "Yen carry trade unwinding risk" is unwinding
Japanese Yen has fallen through the 150 level against the U.S. Dollar for the first time in 2.5 months Source: Barchart
China's Q3 GDP hits weakest pace since early 2023, backs calls for more stimulus
China's economy grew at the slowest pace since early 2023 in the third quarter, and though consumption and factory output figures beat forecasts last month a tumbling property sector remains a major challenge for Beijing as it races to revitalise growth. See below key China GDP data: Q3 GDP 4.6% y/y [Est.+4.5%] Q1-Q3 GDP 4.8% y/y [Prev.+5.0%] Sept retail sales 3.2% y/y [Est.2.5%] Sept industrial growth 5.4% y/y [Est.4.5%] Jan-Sept fixed asset investment 3.4% y/y [Est.3.3%] Sept Unemployment 5.1% [Prev. 5.3%] Source: Reuters, MacroMicro
BREAKING 🚨: Chinese Stocks enter technical correction after falling more than 10% from the October 8th high
Source: Barchart
India stocks foreign selling
Foreign Investors have dumped Indian Stocks EVERY SINGLE day this month for a total value of $6.7 billion. This month's selling is on track to surpass even March 2020. Source: Barchart, Bloomberg
China Weighs $853 Billion Debt Swap to Rescue Local Governments
Source: - Bloomberg
Chinese e-commerce giant $BABA Alibaba’s international arm launched an updated version of its artificial intelligence-powered translation tool
It says, is better than products offered by Google, DeepL and ChatGPT. 👉 The product supports 15 languages: Arabic, Chinese, Dutch, English, French, German, Italian, Japanese, Korean, Polish, Portuguese, Russian, Spanish, Turkish and Ukrainian. 👉 “The idea is that we want this AI tool to help the bottom line of the merchants, because if the merchants are doing well, the platform will be doing well,” Kaifu Zhang, vice president of Alibaba International Digital Commerce Group and head of the business’ artificial intelligence initiative, said https://lnkd.in/eJrhxVrM Source: CNBC
Are investors underestimating just how behind the curve China is in stimulating its economy?
Looking at the chart below (courtesy of BCA), it seems that a 5% of GDP stimulus package is the minimum needed just to prevent growth from weakening further...
