The rush is on to unwind the carry trade in the Japanese yen, but for months, China has been unwinding its dependency on the US.
Does the China market offer a safe haven when the US market is shuddering and the Japanese market is collapsing? The Shanghai Index has its own problems but business exposure to China may offer a backstop to the ructions in other economies. De-coupling is a two-way street, so it is useful to consider both perspectives.
Trade and currency decoupling impacts the way we do business with China and the type of business we can do.
