ECB プレビュー：ハト派的な一時停止が長引きそうだ

After a Strong 2025, Taiwan’s Economy Faces Pressure in 2026

Taiwan's economy in 2025 has been one of the standout performers globally, propelled by the explosive demand for artificial intelligence (AI) and advanced semiconductors. As a critical node in the global supply chain, particularly through companies like TSMC, Taiwan capitalized on the AI boom, driving unprecedented export growth and economic expansion.Through October 2025, exports surged 32% year-on-year, fuelled primarily by high-demand of semiconductors essential for AI, cloud computing, and U.S.-centric supply chains. This led to a doubling of the trade balance from $67 billion to $122 bill...

BoJ preview: Stubbornly weak Yen enabling BoJ and government to agree on 25-bps hike in December

The Japanese economy has been much more resilient than expected to the Trump tariffs and geopolitical risks but with the very weak Yen as the main problem.While the Bank of Japan (BoJ) has been vigilant against the negative impact of US tariffs, the Tankan survey revealed that the Japanese economy has held up well. The headline manufacturing sentiment for large companies slightly improved to +15 in December from +14 in September (Chart 1). The non-manufacturing was also stable at +34, as the negative impact on tourism from the China-Japan political tension has been limited so far. In fact, acc...