Why Trump's Tariffs Have Rocked Japanese Stocks Hardest - Nikkei Asia
Scott Bessent reflections on when he nailed the big Yen trade. Great stuff. https://t.co/qwONCC6oeB
Japan exploited its advantages in producing autos, and the U.S. moved on to things in which it could achieve an advantage of its own. Isn’t that exactly the way things should work in a dynamic global economy?
As I asked in a memo in September, is it a good idea for governments to try to override the laws of economics in an effort to cause their... See more
As I asked in a memo in September, is it a good idea for governments to try to override the laws of economics in an effort to cause their... See more
Oaktree Capital • Nobody Knows
As previously shown, Japan has a rather balanced trade situation, and has a current account surplus. This presents a natural “floor” for the currency vs other currencies.
On the other hand, the United States has a structural multi-decade trade deficit and current account deficit.
Because the US trade deficit is so large and structural, when we shift
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