In his inaugural speech, President Trump pledged a "revolution of common sense". However, as French Enlightenment philospher Voltaire warned, "common sense is not so common". In his recent so-called Liberation Day presentation, Mr. Trump combined a misreading of history and poor economic analysis; unveiling "reciprocal" tariffs on the nation's trading partners. The aim, we are [...]
Tag: asia
Trump 2.0 Tariffs: Everyone Loses
Until now, financial markets have adopted a complacent "wait and see" approach when considering the prospects for the Trump 2.0 trade policy. However, the hope the new Administration's bark would be worse than its bite has been dashed with the imposition of high tariffs on the nation's three largest trading partners. Markets should now contemplate [...]
Asia: Are Countries Taking Sides?
18 April 2024 Since the Global Financial Crisis, globalisation appears to have slowed. Indeed, despite the enormous benefits experienced in the post-WWII era, international trade and financial flows may have gone into reverse (Chart above). In addition, following disruptions caused by the Covid pandemic, some manufacturers have shifted supply chains to domestic producers, or at [...]
Emerging Markets: Has the Time Come?
28 January 2024 At last year's BRICS Summit in South Africa, national leaders were all smiles; ushering in what they believe will be a more influential era for the Global South. Emerging market investors, on the other hand, have had little to celebrate, as EM markets have dramatically underperformed during the past 15 years -- [...]