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    Trump 2.0 and tremors in Taiwan

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    The Magnificent Seven in Trumpland

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    How to stop Donald Trump exporting trade wars

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    People leave New Zealand in record numbers in year to November

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    WELLINGTON (Reuters) -People leaving New Zealand hit record levels in the year to November 2024, in another sign of the weakness in the country’s economy that moved to a technical recession in the third quarter.Data released by Statistics New Zealand on Thursday showed that 127,800 people left the Pacific nation in the year to November, up 28% on the prior 12 month period. This was provisionally the highest number of people leaving in an annual period ever, according to the statistics bureau.Of those leaving, more than 50% were New Zealand citizens, according to the data.New Zealand, which has a population of just 5.3 million, has seen its economy struggle over the last couple of years as the central bank increased the official cash rate to dampen historically high inflation.Michael Gordon, senior economist at Westpac said that a lot of people come to New Zealand for work opportunities and when these dry up people leave. “It’s about work opportunities, especially here (New Zealand) versus Australia. Australia’s economy is still running reasonably strongly,” Gordon said. “There are more opportunities over there now so we are seeing quite high outflows of Kiwis.”However, people leaving does continue to be offset by inward migration. Statistics New Zealand said net migration – the number of people moving to New Zealand permanently minus those leaving New Zealand – was at 30,600 in the year to November 2024. Net migration peaked in the year ended October 2023 at 135,700. Gordon added that net migration was now back at historic averages and that over the longer term net migration would support the country’s economy. “It’s something to keep in mind, that for a big chunk of the world, New Zealand is an attractive place to live, but also for us (New Zealanders) there are also places look more attractive Australia, or going to the U.S. or the UK,” Gordon said. More

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    Japan’s exports expand 2.8% in Dec, faster-than-expected

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    TOKYO (Reuters) – Japan’s exports rose for a third straight month in December, data showed on Thursday, suggesting that companies front-loaded shipments ahead of potentially hefty tariffs promised by new U.S. President Donald Trump.Trump has signalled plans to deploy tariffs on imports from major trading partners China, Canada and Mexico, raising fears that increasingly protectionist U.S. trade policies could dampen and disrupt global shipments.Japan’s exports rose 2.8% in December from a year earlier, data showed, more than a median market forecast for a 2.3% increase and following a 3.8% rise in the previous month.Exports to China, Japan’s biggest trading partner, fell 3% in December from a year earlier, while those to the United States were down 2.1%.Imports rose 1.8% in December on-year, compared with market forecasts for a 2.6% increase and a decline of 3.8% in November.As a result, Japan ran a trade a surplus of 130.9 billion yen ($836.80 million) in December, compared with the forecast of a deficit of 53 billion yen.For the whole of 2024, Japan logged a trade deficit of 5.3 trillion yen, marking four consecutive years of deficits but shrinking from the previous year’s 9.52 trillion yen.Emerging signs of sustained wage growth and expectations it would boost consumption are seen supporting the case for the Bank of Japan to raise interest rates this week.But the outlook for external demand is increasingly uncertain, as Trump’s tariff plans could upend international trade and hold back China’s economic recovery.A recent survey by the Japan External Trade Organization showed that most Japanese companies with operations in the United States are preparing for possible additional tariffs.Those efforts include strengthening manufacturing and procurement in the U.S. and considering product price hikes, according to the survey.($1 = 156.4300 yen) More