The exaggeration of the significance of a few data points led many observers to posit a synchronized global economic rebound. Disappointing data from China, Japan, and Australia last week suggested that the Asia Pacific region is not experiencing it. Japan's export prowess is a thing of the past. Net exports were a drag on Q3 GDP. The October trade balance is likely to show that there has been little improvement. Japan has recorded an average monthly trade deficit of about JPY157 bln. In the first nine months last year, the average monthly surplus nearly JPY3 bln. In the first nine months of 2017, the average monthly ... (full story)