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But we saved everything 🙂.
Brad Setser highlights that shifts in exchange rates continue to be important for global markets.
He observes that the weak Japanese yen is allowing Toyota to better withstand competition from Chinese carmakers internationally.
Setser previously noted that China cut its holdings of U.S. Treasuries in U.S. custodians to an 18-year low, while clarifying that official data omits certain offshore assets. He also highlighted that German auto exports to China have dropped sharply, exposing potential risks to the country's GDP. The observations point to shifting patterns in global trade and capital flows.