Global briefing: Antipodean inflation/ Fracturing global institutions/Trump update/ Dr Copper/ Emerging markets
Insights on global economic and geopolitical developments
In this week’s global briefing:
1. Antipodean inflation: The RBNZ and RBA held policy rates this month. To the extent that these economies are canaries in the mine, expect a challenging last mile.
2. Fracturing global institutions: This week’s WTO and G20 meetings reflect the decline of multilateralism. Firms and investors need to adapt to a fragmented world.
3. Trump update: I still assess Mr Biden to beat Mr Trump in November. Firms and investors should be positioning for this election, including in no-regrets ways.
4. Dr Copper: The prices of industrial metals are consistent with (or are not inconsistent with) a resilient global growth outlook ahead.
5. Emerging market outlook: Emerging market growth models are deeply exposed to a new economic and geopolitical regime. Expect greater variation in outcomes.
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