UBS On-Air: Paul Donovan Daily Audio 'United fronts'
UBS On-Air: Market Moves · Podcast owner
April 1, 20252m 41s
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Show Notes
A social media post from a semi-official China account suggested that China, Japan, and South Korea would present a united front against US trade taxes. Korean officials suggested this might be exaggerated, but the fact that this is remotely plausible reflects the reconfiguration of how the world works (or does not work). China and Japan are the two largest central bank holders of US dollar assets.