Last week, next week

Two themes stand out. First, macro in China is stabilising following the multi-year decline triggered by the twin shocks of the three red lines and zero covid. Second, the chip supercycle has yet to be derailed by the Iran War.

Paul Cavey

Apr 20, 2026 • 5 min read

Public Post

China – consumption guide

China's economic data are widely cited – but aren't well understood. To try to tackle that, I have been making some data guides. This first one tackles consumption.

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East Asia Today

The main data release today was PPI, import and export prices in Japan, which show inflationary pressures easing from June, but remaining high. As would be expected given the big rise in nominal GDP, tax revenue in Korea is growing strongly.

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East Asia Today

The Japan Reuters Tankan shows the recovery in manufacturing sentiment that was interrupted by the Iran War is back on track. In Korea, unemployment remains below 3%, and that will be a truer measure of labour market tightness if some of the structural supply side shifts continue to lose momentum.