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Nothing is done until it's done, and, in the case of Sino-U.S. trade talks, even if a deal is reached, the new normal is that tensions will be bubbling in the background.
Japanese policymakers will have been scouring yesterday's data for signs that the trade situation is improving.
The trade war with China is a macroeconomic event, whose implications for economic growth and inflation can be estimated and measured using straightforward standard macroeconomic tools and data.
The value of Japanese retail sales bounced back strongly in December, rising 0.9% month-on-month, after a 1.1% drop in November.
We've had pushback from readers over our take on the likelihood of a trade deal with China in the near future.
We anticipated that the G20 meeting at Osaka over last weekend would be a potentially important mark of thawing relations between China and the U.S., with the hotly awaited meeting between Messrs. Xi and Trump.
The outcome of the Trump-Xi meeting at the G20 summit was as good as we expected.
China's FX reserves rose to $3,062B in November, from $3,053B on October. On the face of it, the increase is surprising.
China's trade surplus bounced back strongly in May, rising to $40.1B on our adjustment, from $35.7B previously.
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