Insights

The macroeconomic issues that plague China are well known, but we believe that China is able to engineer a soft landing and to sustain growth, albeit at a lower level than it is used to.

After improving in the spring, the US trade imbalance is worsening again, especially vis a vis the Eurozone and China, with significant repercussions for international monetary and economic relations.

John Vail, Chief Global Strategist for Nikko Asset Management, contributes a regular column to Forbes.com

We entered the year optimistic, and with the knowledge of the last six months, we are pleased that most of our expectations worked out.

Global growth remains desynchronized, with the Eurozone, Japan and the UK showing an ongoing moderation in growth, whilst the US remains robust.

All major value equity indices show that the last five years, and in particular the last 12 months, have been a challenge for value as a style.

Nearly every expert seems to be pessimistic about any progress being made during the US-China talks this week, citing the “low level delegations” attending, but there are many signs from both sides of an incipient deal, not to mention the obvious economic and political incentives to achieve such.

The MSCI AC Asia ex Japan (AxJ) Index edged higher in July as losses in China and Korea were offset by gains in India, the Philippines, Thailand and Malaysia.

The Japanese equity market rose in July, with the TOPIX (w/dividends) climbing 1.30% on-month and the Nikkei 225 (w/dividends) rising 1.12%. Stocks started the month lower amid anxiety over intensifying trade tensions between the US and China.

Part 3: How does a portfolio manager invest in disruptive innovation?

The Fed, led by Chairman Powell, will very likely resist any effort by the White House to pressure it into halting rate hikes.

John Vail, Chief Global Strategist for Nikko Asset Management, contributes a regular column to Forbes.com