911±¬ÁÏÍø

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June 18, 2025
 

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Daniel Moss
Despite doubts and talk of alternatives in Asia and beyond, the dollar remains dominant because there are no viable rivals and it continues to serve as the world¡¯s key safe asset.
COMMENTARY / World
Jun 3, 2025
The problem with Asia's ¡®sell America¡¯ moment
The region¡¯s currencies are enjoying a healthy rally. History warns against anti-dollar triumphalism.
Amid trade war uncertainty, central bankers, including Bank of Japan Gov. Kazuo Ueda, are leaning toward cautious policies, with some signaling potential rate cuts while awaiting the fallout from U.S. tariffs.
COMMENTARY / World
Apr 22, 2025
Rate cuts anyone? Anyone? Ferris Bueller¡¯s tariff lesson
The collective sense of "we don't know¡± will give way to either hiking or easing. In Asia, the bias appears to favor the latter.
Donald Trump¡¯s punitive tariffs have dealt a blow to U.S. credibility and the greenback. It¡¯s a bigger leap to project the currency's demise.
COMMENTARY / World
Apr 16, 2025
King dollar¡¯s reign looks secure ¡ª for now
The greenback survived Trump's first term at the pinnacle and will likely endure his second.
Indonesian President Prabowo Subianto is reasserting military influence in politics, pushing fiscal policies that challenge long-standing restraints and accelerating democratic backsliding ¡ª moves that are causing economic instability and political unease.
COMMENTARY / World
Apr 1, 2025
Prabowo tries to remake Indonesia, but at what cost?
The economic and political pillars that emerged after the turmoil of 1998 are?in peril. Markets are rightly apprehensive.?
Fertility rates remain low across much of Asia, with past policies to curb population growth proving difficult to reverse, while governments explore adaptation strategies like immigration and AI.
COMMENTARY
Mar 5, 2025
It¡¯s time we adapt to low fertility rates
South Korea¡¯s fertility rate saw a slight increase, but experts doubt it signals a long-term reversal. Similar trends are seen in Singapore and Japan.
Japan has effectively exited deflation, but Prime Minister Shigeru Ishiba¡¯s reluctance to acknowledge it reflects outdated economic fears rather than current reality.
COMMENTARY / Japan
Feb 13, 2025
It¡¯s time for Japan to admit victory over deflation
The last time prices declined was in July 2021, the same month the Tokyo Olympic Games took place.
Southeast Asian economies, once seen as beneficiaries of the U.S.-China trade war, now face challenges as escalating tariffs and trade tensions threaten their growth and regional stability.
COMMENTARY / World
Feb 5, 2025
Winners of the first trade war may not be so victorious
Stuck between the U.S. and China, Southeast Asia¡¯s challenges this time around are much greater.
Bank of Japan Gov. Kazuo Ueda attends a news conference after the central bank's policy meeting in Tokyo on Friday. The BOJ raised its rate by a quarter-point to 0.5% that day.
COMMENTARY / Japan
Jan 26, 2025
Japan¡¯s central bank drops the drama and wins on rates
The quarter-point increase, which took the main rate to 0.5%, was probably the most telegraphed this century.
Instead of the Bank of Japan's actions strengthening the yen as once hoped, recent steps have only caused further weakening.
COMMENTARY / Japan
Jan 22, 2025
Ueda¡¯s doctrine for the BOJ is finally emerging
Instead of the Bank of 911±¬ÁÏÍø actions strengthening the yen as once hoped, recent steps have only caused further weakening.
A giant 1000 Indonesian rupiah coin display inside the headquarters of Bank Indonesia in Jakarta
COMMENTARY / World
Jan 19, 2025
Indonesia is the latest country to risk a 'Japanification' tag
With markets sniffing out fiscal vulnerabilities in many countries, this would be an inopportune time to lose discipline.
The next 12 months will be more challenging, with some countries pursuing quick interest-rate cuts while others will proceed cautiously.
COMMENTARY / World
Dec 27, 2024
A view to 2025: Enough with the central bank hawks and doves
Interest-rate cuts will be a feature, including at institutions that resisted easing in 2024. But mind the nuances.
South Korea¡¯s currency recovered while its stocks fell Wednesday as investors braced for prolonged political uncertainties following a brief decree of martial law by President?Yoon Suk Yeol.
COMMENTARY / World
Dec 5, 2024
Capitalism is the unsung hero of South Korean democracy
Capitalism, with its economic pressures and global integration, has been crucial in fostering democracy in South Korea.
The United Nations once projected the world¡¯s population would peak at 10.3 billion in the 2080s, but now expects 700 million fewer inhabitants by 2100.
COMMENTARY / World
Dec 4, 2024
Why falling fertility is not a crisis
The current population decline mirrors past transitions like the industrial revolution, where smaller families fueled economic growth and innovation.
Beijing¡¯s long-standing line has been a commitment to keep the yuan "basically stable.¡± But U.S. President-elect Donald Trump¡¯s return ¡ª and his threat of tariffs ¡ª may test that.
COMMENTARY
Nov 27, 2024
China will send a weaker yuan to the Trump front
Beijing¡¯s long-standing line has been a commitment to keep the yuan "basically stable.¡± But Trump¡¯s return with his tariff threats may test that.
Bank of Japan Gov. Kazuo Ueda can point to Washington all he wants, but his inability to settle on a consistent message is part of what ails his nation's currency.
COMMENTARY / Japan
Oct 18, 2024
The yen pays the price for a timid Bank of Japan
Ueda can point to Washington all he wants, but his inability to settle on a consistent message is part of what ails his nation's currency.
While China's recent initiatives signal a willingness to address economic challenges, the road ahead remains difficult as the country's policymakers have yet to offer a clear road to success.
COMMENTARY / World
Oct 3, 2024
A stimulus is good, but China still faces a hard slog
Beijing is back in investors' good books. To justify the euphoria, it needs some meaty goals.
Looming interest-rate cuts by the Federal Reserve and a new hawkishness on the part of the Bank of Japan can make a claim for the yens recent movements.
COMMENTARY / Japan
Sep 13, 2024
Epic yen rally is a lesson in the lost art of FX intervention
911±¬ÁÏÍø own proactive currency interventions have played a crucial role in the yen's recent recovery.
Bank of Japan Gov. Kazuo Ueda "predictably unpredictable" actions and policy shifts highlight the need for improved communication, reflecting modern central banking practices.
COMMENTARY / Japan
Aug 28, 2024
How long can the BOJ get away with rate shocks?
The BOJ¡¯s shifting policies and Kazuo Ueda¡¯s unpredictable approach reflect the need for better alignment with modern central banking practices.
The yen¡¯s depreciation is largely down to the gap in interest rates between the U.S. and Japan. Therefore, U.S. Federal Reserve Chair Jerome Powell is, to all intents and purposes, ¡°Mr. Yen.¡±
COMMENTARY / Japan
Jul 1, 2024
There¡¯s a new 'Mr. Yen' in town
No matter what the Bank of Japan or the Finance Ministry do, ultimate control over the yen's value lies in the hands of U.S. Federal Reserve Chair Jerome Powell.
Monitors show the rate of the yen against the U.S. dollar at a foreign exchange brokerage in Tokyo on Monday. Traders are falling out of step with the Bank of Japan, expecting hawkish steps that are instead met with a cautious approach.
COMMENTARY / Japan
Jun 24, 2024
Traders are out of step with the BOJ¡¯s Ueda
Time and time again, traders predict that the Bank of Japan will take bold next steps, but these rarely come. That's because Gov. Ueda is, most of all, cautious.
Japan suspects Chinese aircraft carriers conducted drills against U.S.
Chinese aircraft carrier, the Liaoning. It crossed what is known as the second island chain, which links the Ogasawara Islands and the U.S. territory of Guam, on June 7.
G7 backs Israel¡¯s ¡®right to defend itself¡¯ as Trump hastily leaves summit
U.S. President Donald Trump walks to have a family photo taken at the Group of Seven leaders' summit in Kananaskis, Alberta, Canada, on Monday.
Nippon Steel may have gotten the deal it wanted all along
Nippon Steel is buying United States Steel in a deal that gives the U.S. government a golden share in the U.S. steelmaker.
Japan sweats under extreme heat despite ongoing rainy season
People walk under the scorching sun in Tokyo's Omotesando area on Tuesday as temperatures rise above 35 degrees Celsius in much of eastern Japan.
No breakthrough on tariffs at Ishiba-Trump meeting in Canada
U.S. President Donald Trump (left) speaks with Prime Minister Shigeru Ishiba at the Group of Seven summit in Kananaskis, Alberta, Canada, on Monday.
Nippon Steel may have gotten the deal it wanted all along
Nippon Steel is buying United States Steel in a deal that gives the U.S. government a golden share in the U.S. steelmaker.
Tokyo moves to restore open skies over historic Nihonbashi bridge
Nihonbashi bridge, long overshadowed ¡ª literally ¡ª by an elevated expressway, is at the center of a multidecade project to relocate the highway underground in hopes of restoring the scenery around the historically significant bridge.
The underlying risks to Japan¡¯s undersea cables
A screenshot of a submarine cable map on TeleGeography¡¯s website shows a network of cables connecting with Japan.
Japan and the U.S. face challenges in economic security discussions
Rare earths from Australia's Mount Weld mine. 911±¬ÁÏÍø companies have a supply agreement with a company that sources rare earths from the mine.
Decokatsu could save you money and help the planet. But you probably haven't heard of it.
Eating locally grown food could be part of a decokatsu lifestyle that's both good for the planet and your wallet.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo¡¯s Shinjuku Ward.
Kabukicho: Tokyo¡¯s ¡®stadium of desire¡¯

Longform

The classic red brick arches of Tokyo¡¯s first ¡°g¨¡do-shita,¡± built in 1910, are what most 911±¬ÁÏÍø people think of when they think about commercial spaces under elevated railways.
Revitalizing the space under Tokyo¡¯s train tracks
By Alex K.T. Martin

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