In the past week, two important things happened in Japan. First of all, the Nikkei stock market index hit an all-time high; finally, eclipsing the previous record established 35 years ago. Following decades of underperformance, Japanese equities have left US stocks in the dust during the past two years. Meanwhile, the Bank of Japan (BOJ) [...]
Tag: inflation
Can Europe Surprise? Only With Reforms
Is Europe in secular decline? If so, can it be halted? Since as recently as 1990, the region's share of global GDP has declined from 24% to 14%. Even compared to other advanced economies, Europe has lost ground. Indeed, since 2005 European GDP growth has trailed the USA by 0.7% annually (the gap is less [...]