China: The slowdown is managed, but not over>
China’s GDP growth came in unchanged at +6.0% y/y in Q4 2019.
U.S.-China trade deal: No biggie, but de-escalation confirmed
The U.S. will halve its 15% tariff on about USD120 billion of Chinese goods and suspend planned duties that were set to take effect last December.
Taiwan election: Decoupling from China remains top of mind
Tsai Ing-wen was reelected as president of Taiwan on 11 January in a landslide victory against runner-up Han Kuo-yu.
China: Monetary policy was eased again
The PBOC announced on 1 January a 50bp cut in the Reserve Requirement Ratio (RRR), effective from 6 January.
APAC: Manufacturing PMIs may be bottoming out but remain low
Manufacturing PMIs mostly improved in Asia-Pacific in December. Out of the major 14 economies in the region, only the indices in Japan and Vietnam saw (slight) declines