The Only Thing We Have to Fear Is Fear Of Inflation

When CLSA’s famed analyst Christopher Wood looks at Asia, he sees nuance and profound complexity. In Japan, he ponders the “Giri” culture, about duty or obligation to give back to society, and recognizes that large corporations might have to fulfill a social contract that could boost wages in the region. This all comes as inflation fears mount.

There is a movement that appears to be taking place across the world. Corporations, given benefits from tax reform, are opening their checkbooks and planning on giving back and providing their workers a raise.

Will this lead to the dreaded “I word” Inflation? That’s difficult to determine, but at present Wood, the editor of CLSA’s Fear and Greed report, says the fear of...