Lots More With Brad Setser on the Yen, a New China Shock and Excavators
Odd Lots
Bloomberg
4.5 • 2K Ratings
🗓️ 10 May 2024
⏱️ 32 minutes
🧾️ Download transcript
Summary
There's a lot going on in currency markets and global trade at the moment. The Japanese yen has been falling, even after authorities seemed to intervene to try to arrest the slide. Meanwhile, weakness in the Chinese yuan has helped boost that country's exports and is fueling talk of a new "China Shock" for the rest of the world, even as its economy continues to grapple with slower economic growth and excess capacity. In this episode of Lots More, we bring back Brad Setser, senior fellow at the Council on Foreign Relations, to walk us through these developments, along with his new paper, "Power and Financial Interdependence." We also talk about what China's excavator exports can tell us about its economy.
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Transcript
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| 1:14.0 | Brad, what's going on with the Yun? |
| 1:17.0 | Well, it's a bit of an intervention. The intervention took it from roughly 160 to 152 and now it is drifting back up towards, yes, like round 155. |
| 1:31.0 | Broadly, the yin is just really, really, really weak. |
| 1:35.2 | Obviously, that's because Japanese interest rates are very low |
| 1:38.1 | relative to US and European rates. |
| 1:40.8 | And the yin reached a level where the Japanese Ministry of Finance, which has Japan's |
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