You don’t hear much about the battle of the Machine Tool Reserve anymore, and that’s a shame. Fought inside the Beltway in the mid-1950s, it was a defining tussle over the nature of postwar national defense.
South Korea is one of the few emerging markets to weather the recent storms. This stability is the legacy of 60 years of forced industrialization imposed by authoritarian governments and tightly controlled monetary and fiscal policies.
Japan’s Topix index fell, extending yesterday’s biggest drop in five weeks, after Chinese factory production and retail sales missed estimates, spurring concern about the outlook for the world’s second-biggest economy.