Two Chinas are better than one for careful investors

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Investors seeking a balanced perspective on risk and opportunity in China should set aside outdated perceptions of the country as a manufacturing juggernaut and think of it instead as “two... Read more continue reading
30 Nov 2015

Yuan’s reserve currency status: The door to China swings open

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Inclusion of the Chinese yuan in the IMF’s basket of reserve currencies, expected to be approved at the end of this month, heralds China’s increasing presence in global capital markets.... Read more continue reading
23 Nov 2015

Asia: Sound fundamentals suggest no repeat 1997–1998 crisis

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While Asian currencies have been quite unstable in recent months, comparisons with the Asian Financial Crisis are over the top, in our view. External positions of the region’s economies are in a... Read more continue reading
16 Oct 2015

China’s policies and fundamentals converge

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Given all the negative commentary about China at the moment, it’s difficult for many investors to get a balanced perspective on the risks and opportunities there. Our bottom-up research, however,... Read more continue reading
06 Oct 2015

Megatrends: Asia rising

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The centre of global economic activity has seen a clear shift away from Developed Markets and towards Emerging Markets since the turn of the century. China has been at the... Read more continue reading
15 Sep 2015

China after the market intervention: What’s next?

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China’s efforts to stem the market crash have had limited success so far. In our view, attempts to boost domestic demand via the policy banks will only help prevent further... Read more continue reading
10 Sep 2015

Contagion – A perspective

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Recent events in China have sent tremors across global equity markets. Understanding the sources of these tremors and their interplay with our twin themes of secular stagnation and contagion will... Read more continue reading
08 Sep 2015

China: What’s really behind the currency move?

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China’s decision earlier this month to change the way in which the central parity or “fix” rate of the renminbi (RMB) is determined has been widely characterised as a devaluation... Read more continue reading
03 Sep 2015

Macro Matters: Five reasons the market oversold

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In last week’s “Macro Matters,” I argued that China’s currency regime change is bad news for the global economy and risk assets unless it will be accompanied by further domestic... Read more continue reading
28 Aug 2015

Malaysia: capital controls to support ringgit would be disruptive

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China’s surprise currency devaluation, which triggered a sell-off in many Asian currencies, has increased Malaysia’s headache as the country had already been struggling to halt the ringgit’s decline. Reintroducing capital... Read more continue reading
27 Aug 2015