Andy's Feed
Dec 15, 2014
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Abe wins election, but wage trial will be tougher

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

A solid election majority has given Japan’s prime minister a fresh mandate to lift wages and end deflation. But Shinzo Abe and his ruling alliance can’t keep their promise by merely printing more yen. Productivity-led pay hikes will require reforms, and those may not materialize very quickly.

Dec 9, 2014
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Japan index: Shallow recovery from deep recession

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

The Breakingviews Abenomics Index rose marginally in October. Private consumption improved, and the stock market zoomed ahead of Bank of Japan’s stimulus. But subdued inflation is a worry. The economy could be slow to shrug off the chilling effect of the April sales tax increase.

Dec 8, 2014
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Strong dollar is $10 trillion headache for debtors

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own. 

The prospect of a stronger greenback is now a $10 trillion headache for the global economy. Borrowers who have loaded up on cheap dollar debt since the financial crisis could get into serious difficulty – especially if they don’t have enough U.S. currency revenue to repay creditors. The threat to financial stability is high.

Dec 5, 2014
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Big Abe win will rekindle hope in Japan reforms

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Shinzo Abe could be heading for a landslide election win. A big victory for the Japanese prime minister would revive investor confidence in Japan’s economic reforms and help shore up his anti-deflation campaign.

Dec 3, 2014
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Oil slide threatens Malaysia’s fiscal progress

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Just when Malaysia was beginning to plug the holes in its public finances, the prospect of a sharp reduction in oil revenue is threatening to undermine fiscal progress and weaken the currency.

Dec 2, 2014
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India may boast world’s steepest rate cuts in 2015

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

India has decided against cutting its interest rates. But that only means next year might see it slashing them more than any other major economy. There is both the scope and the need.

Nov 28, 2014
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Cheap oil worsens Asian debtors’ lowflation woes

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Sliding oil prices may worsen Asian borrowers’ “lowflation” blues. As wages and prices stop rising, heavily leveraged consumers and companies might have to curb spending to repay loans. Slowing GDP growth could stumble.

Nov 26, 2014

India in depth: Time to follow China on rates

(The author is a Reuters Breakingviews columnist. The opinions
expressed are his own.)

By Andy Mukherjee

SINGAPORE, Nov 26 (Reuters Breakingviews) – Global
disinflation has finally caught up with India’s high-cost
economy. Rapidly easing price pressures are creating room for
the Reserve Bank to follow its counterpart in Beijing and start
cutting interest rates. Monetary easing would carry very few
risks now, and offer several large benefits.

Nov 19, 2014
via Breakingviews

How to make Japan’s tax timetable more credible

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By Andy Mukherjee

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Shinzo Abe’s new timetable for raising Japan’s sales tax could do with a credibility boost. Making a future increase dependent on wage growth might be a better strategy.

Nov 17, 2014
via Breakingviews

Japan’s surprise recession clouds fiscal future

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By Andy Mukherjee 

The author is a Reuters Breakingviews columnist. The opinions expressed are his own.

Japan’s surprise recession has clouded its fiscal future.

Data released on Nov. 17 showed the country’s output has fallen for a second straight quarter. Once again, the modest 3 percentage point increase in Japan’s sales tax rate in April was the culprit. The fragility of private demand not only rules out a planned second increase in the levy next year, but also reduces the chances that future politicians will bite the fiscal bullet. Taxing consumers to shrink the government’s huge debt load is a fast-receding dream.

    • About Andy

      "Andy Mukherjee covers Asian economies from Singapore. He joined from The Straits Times where he was a senior writer. Andy spent eight years at Bloomberg News, the last five as an Asia columnist. In 2004, and again in 2006, he was awarded the second prize for outstanding commentary writing by the New York-based South Asian Journalists' Association. He left Bloomberg to join a start-up business television station in Mumbai where he was the executive editor until 2010. Andy has an undergraduate degree in journalism from University of Delhi."
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