East Asia Today

Rather than Asada's speech today, I spent most of the day thinking about Ueda's much more interesting remarks at the weekend. Import price inflation in Japan accelerated in October, CPI in Korea is on track to get back to 3% this month, and interest rates in China continue to fall.

Paul Cavey

Nov 12, 2026 • 2 min read

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Japan – is corporate saving about to turn?

In a speech at the weekend Governor Ueda laid open the possibility that Japan might finally be able to achieve its 40-year quest for "domestic demand-led adjustment". That's a big deal. Key is how corporate savings and investment react to higher nominal growth and labour shortages.

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East Asia Today

Money supply growth in Japan is starting to slow. In Korea, exports are off to a strong start in November, and the labour market is stating to tighten. Taiwan's tax income is surging, weighing on reserve money, but labour demand is strong. Also today, my first....rap. Youtube link is attached!

Public Post

China – no Japanification

With some trepidation, I am releasing my first....rap. Perhaps not the vibe you would expect from me, or from a rap, given both it and the accompanying video are another attempt to argue against the idea of Japanification.