Relevant:
- Asian trade in 'free fall' as exports to West dry up
- Where is the US's REAL Trade Deficit Problem?
- Nevermind the Brexit, UK will emerge with a good trade deal; Worry About the EU Itself
- Japan Faces Moment of Truth: First Annual Trade Deficit Since 1980; New Trend or Simply the Tsunami Effect?
- Brazil Declares New Currency War on US and Europe; Japan Losing Balance of Trade Battle
2008-12-24 — telegraph.co.uk
"We think this is very serious," said Stephen Jen, currency chief at Morgan Stanley. "These export surplus countries are super-leveraged to the West, and now we're seeing a multiplier effect (in reverse) as the intra-Asian trade model is stress-tested. What's incredible is that Japan has run a trade deficit for two months in a row despite the fall in oil prices. The next country to watch is going to be Germany," he said.
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