Today's PMI round points to a modest rebound in activity and exports in November, but not by enough to think the manufacturing cycle is really regaining momentum. Price pressures also feel subdued, though in this Japan is an exception, with "intensified" output price inflation in November.

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.

Beijing will be very wary of all the talk of a Plaza II agreement. Plaza I is widely seen as a successful effort to stop Japan's economic rise. That imbalances have nonetheless persisted suggests US macro policy has a role to play, but why would US promises to get fiscal under control be credible?

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.

Some analysis of the weakness of consumption in Asia. As the opening chart suggests, the big underperformer isn't either China or Japan, but rather Korea. The clear outperformer is Taiwan.

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.

A summary of what happened on East Asia Econ last week, and what to look for in the next seven days.