Global Macro
Section 899: Don’t Take It Too Seriously
We believe analysts may be taking Section 899 too seriously. (1) The proposed Section 899 will most likely not be enacted: it is meant…
Read MoreWhy is Resurrecting Manufacturing Important for the US?
Besides bolstering national security, (1) manufacturing has a multiplier factor of around three, i.e., the overall impact of manufacturing…
Read MoreChina: Cut-throat Price War in EVs
When Chinese companies focus on a challenge, they run as fast as possible and turn the dial-up to11….
Read MoreTrump plans to impose 50% tariff on EU imports from next month
Trump plans to impose 50% tariff on EU imports from next month: Stephen Jen warns that the trade war is widening…
Read MoreMy thoughts on currencies, May 2025
My Thoughts on Currencies: Policy-wise in the US, 2025 has so far been a year of the ‘twin deficits’…
Read MoreWashington deserved a downgrade
Washington deserved a downgrade: Following Moody’s decision to strip the US of its final AAA sovereign rating…
Read MoreThe Ferguson Law and the US’ Fight for a Small Government
The Trump Administration has been fighting to alter the trajectories of the US’ twin deficits…
Read MoreAnother Avalanche Warning on the Asian Currencies
The Taiwan dollar (TWD) appreciated by 7.5 percent against the dollar over the first days of May, purportedly triggered…
Read MoreMade in the USA 2035
The economic rivalry between the US and China is intense partly because it is as much a technology war as a trade war.
Read MoreWSJ: Xi is ratcheting up China’s pain threshold for a long fight with Trump
In this follow-up note on the evolving US-China trade conflict, Stephen Jen provides a…
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