The Japanese business community is increasingly pessimistic about the Japan–China relationship. For the past three years the US-based Center for Strategic and International Studies (CSIS) and the Japan-based Nihon Keizai Shimbun (Nikkei) have surveyed Japanese business people about their attitudes...

When President Barack Obama said, ‘The TPP means that America will write the rules of the road in the 21st century’, he was not speaking metaphorically. Large passages in the final text were lifted verbatim, sometimes en masse, from past...

The US dollar is narrowly mixed.  The euro, yen and Swiss franc are higher, while the dollar-bloc and sterling are softer.  The moving element here is not so much the greenback, which serving more as a fulcrum, but idiosyncratic, country-level...

The major central banks have placed down their markers and have moved to stage left.  There are the late-month high frequency data, which pose some headline risks in the week ahead.  The focus for most investors will be on several...

The recently concluded 28th and 29th ASEAN Summits in Vientiane, Laos again saw ASEAN give a muted response to the more contentious issues facing member states. This is largely a result of conflicting national interests between members in the absence...

Australia has vastly more material resources than its Pacific neighbours. It represents 94.5 percent of the region’s GDP, 98 percent of defence and security spending and contributes 60 percent of total development assistance. Based on a simple comparison of size...

As Nassim Taleb instructed, we should not be fooled by randomness. If you see six red results in a row at a roulette table, do not conclude the game is rigged.  If you flip a coin, and it is tails...

The Federal Reserve decided to leave its target interest rate unchanged at a range of 0.25 percent to 0.5 percent while suggesting a hike later in the year was very likely. The Federal Reserve decided to leave its target interest rate unchanged at a range...

The US dollar has lost another 0.5% against most of the major currencies today, as Asia and Europe respond to the Fed's decision.  There are few exceptions to this generalization.  The Norwegian krone has gained nearly three times as much,...

Much of what the Bank of Japan announced today had been largely leaked.  While there was a sizeable response in the asset markets, the dollar's knee-jerk gains against the yen were quickly unwound.  The BOJ lifted its self-imposed restrictions on...

For close to 40 years after 1955, the Liberal Democratic Party (LDP) dominated Japan’s competitive party system. Opposition parties were not able to mount a successful challenge to LDP rule at the national level, but they had an important impact...

The ultra-low and negative interest rate environment in advanced economies and its implications for the rest of the world are currently among the top concerns of financial market participants and policy makers worldwide. Mark Carney, the governor of the Bank...

Relations have been good between Singapore and Indonesia, but challenges still lie ahead. The upcoming leaders’ retreat for Singapore’s Prime Minister Lee Hsien Loong and his Indonesian counterpart, President Joko Widodo, will coincide with the golden anniversary (50 years) of...

Africa is becoming a new strategic playground where economic and geopolitical rivalry between Asian powers compels Japan to compete in a contemporary struggle for influence. Japan’s decision to hold the Sixth Tokyo International Conference on African Development (TICAD) on African...

Tomorrow's Bank of Japan and Federal Reserve meetings are serving to dampen activity in the foreign exchange market.  The US dollar is little changed against the euro, yen, and sterling.  The Antipodeans are firm. Tomorrow's Bank of Japan and Federal...