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What the Unravelling of the Global Order Means for Markets

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The United States' Rearming of Japan and South Korea

More weapons generally is not a good thing and is a sign of rising tensions. Japan, Germany, countries that have been tentative about rearming are probably a natural occurrence. It was particularly interesting to see when President Xi was in Moscow recently to see the Japanese Prime Minister make a visit to Kyiv. I think that was welcome clearly for the Ukrainians, but it was also a sense that it's actually a global reaction to what's been going on in Russia and Ukraine. The hope is that that obviously keeps a balance and keeps any of those weapons from being used.

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