Europe: The EU is running a trade surplus with itself. This anomaly may be caused by value-added tax fraud of more than €60 billion.
Asia-Pacific: Sentiment among large Japanese electronics retailers has soured. Will they begin to cut prices?
China: As China relies more on consumption-driven growth, the decline in disposable income per capita could be a headwind going forward.
Emerging Markets: EM Asia equity markets are much less exposed to commodities but have a higher concentration of tech companies.
Global Developments: Morgan Stanley expects a recovery in trade volumes and new orders to lead an upswing in global growth.
Here is the share of countries with rising export orders.
Food for Thought: US population growth from immigration:
Edited by Devon Lall
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