China Rapid Response China PMIs (Apr. 2025) The drop in the Caixin services PMI mirrors the fall in its official counterpart and provides further evidence that the trade war is weighing on economic activity in China, even beyond the... 30th April 2025 (Updated 6th May 2025) · 2 mins read
Japan Economics Focus Japanese bank outperformance has a bit further to go Japanese banks are the one sector benefitting from the BoJ’s tightening cycle as higher interest rates lift their income by more than their expenses. And although they’ve struggled more recently amid... 30th April 2025 · 19 mins read
Japan Rapid Response Japan Industrial Production & Retail Sales (Mar. 25) 30th April 2025 · 2 mins read
China Chart Pack China Chart Pack (Apr. 25) US tariffs will start to weigh on China’s export growth soon. Domestic headwinds are also set to persist. A significant loosening of fiscal policy will help support the economy, but it won’t be enough... 29th April 2025 · 0 mins read
Global Economics Update Trump, the global economy and the next 100 days President Trump’s first 100 days in office have brought substantial shifts in US policy. The next 100 will start to reveal whether his presidency is causing a realignment of the global economy. There... 29th April 2025 · 7 mins read
China Activity Monitor CAP: China’s Q1 growth weaker than officials claim Our China Activity Proxy calls into question the consensus view, based on the official GDP figures, that China’s economy remained resilient at the start of this year. Despite some improvement in March... 29th April 2025 · 2 mins read
India Chart Pack India Chart Pack (April 2025) India’s economy is emerging from its recent soft patch. Headline CPI inflation should remain close to the RBI’s 4% target over the coming months, enabling the central bank to continue easing monetary... 29th April 2025 · 1 min read
Asia Economics Focus Will Asia benefit from China's plunging US exports? Parts of South East Asia, notably Vietnam, as well as India are well placed to immediately gain market share in response to penal US tariffs on Chinese imports. But uncertainty over the future tariff... 29th April 2025 · 14 mins read
Asia Economics Update The economic impact of rising tensions in Kashmir Provided it was limited just to Kashmir, a period of fighting between Pakistani and Indian forces would have a small impact on the overall economy of either country. The closing of the only land trade... 28th April 2025 · 3 mins read
Emerging Markets Economics Chart Pack Emerging Markets Chart Pack (Apr. 2025) US import tariffs have largely focused on China. For some EMs (such as India and South East Asia), this creates near-term opportunities to take US market share from China. But there will be offsetting... 28th April 2025 · 1 min read
Japan Economics Update Is Japan’s rent inflation about to take off? Our base case is that faster growth in household incomes will result in the recent pick-up in rent inflation broadening from major cities to the rest of the country. However, there’s a risk that... 28th April 2025 · 3 mins read
Commodities Update Lessons from US-China trade war 1.0 for soybeans Soybeans are once again caught in the firing line of the US-China trade war. There is plenty of uncertainty around the exact ramifications for the shape of global trading patterns and prices, but the... 25th April 2025 · 4 mins read
China Economics Weekly China Weekly: Taking a stand against the US President Trump wants to cut a deal with China so that he can claim victory and roll back some tariffs. But China’s leaders aren’t playing ball. They are considering tariff exemptions for certain... 25th April 2025 · 8 mins read
Asia Economics Weekly Asia Weekly: Korea construction slump, BI on hold Korea’s economy remains in the doldrums, with figures published earlier this week showing the economy contracted by 0.2% in the first quarter. Investment was particularly weak, dragged down by a sharp... 25th April 2025 · 8 mins read
