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The blind spot

Weekly investor research

27 August 2019

The US trade war with China re-erupts, then subsides a bit. Chinese industrial profits surge. Fernandez rules out default in Argentina. The Indian government cuts red tape and harvests an RBI dividend. Bolsonaro comes under fire over Amazon blazes. Rosneft will start to settle oil trades in Euros instead of US dollars. China stops Venezuelan oil shipments. South Korean exports remain soft. Ramaphosa’s policy priorities take shape in South Africa. Away from Emerging Markets (EM), Jackson Hole fuels expectations of a moderate pace of rate cuts, but the real blind spot in policy-making is the fiscal policy-debt-productivity nexus. To mark silly season, Trump proposes to buy Greenland; what does this story tell us about how America does business?

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