Trade
Semiconductors Distort The Message From Asian Trade…
The Surge In Chinese Exports Is Likely Unsustainable…
Bifurcated Demand For Semiconductors…
China Is Stockpiling High-End Memory Chips…
Trade Wars Don’t Work In A Multipolar World…
China Will Export Deflation To EM…
Equities And Elections…
Favor Health Care and Utilities for defensive positioning amid economic slowdown and volatility as the presidential election approaches. A Republican Sweep favors Real Estate and Materials, while the second most likely outcome, Democrat gridlock, favors Health Care, and Information Technology.
China has become less reliant on exports to advanced economies, and its products have successfully penetrated developing economies. Exports to the US make up 3% of Chinese GDP, while exports to all developing economies account for 10% of its GDP. China’s trade pivot from advanced to developing economies has economic, political, and geopolitical ramifications.
The External Sector And NOK Idiosyncrasies…