If one desires to be loyal, one is not filial; if one desires to be filial, one is not loyal [Mori Akira]

Mr. Akira Moriプロフィール

Economist. Affiliated with a think tank (United States). Specializes in exchange rate policy, monetary policy, macroeconomic policy, and financial regulation. Interacts with market participants, financial authorities, and policy makers to analyze currency movements from multiple perspectives.

※This article is a reprint and edit from FX攻略.com November 2020 issue. Please note that the market information written in the body may differ from current market conditions.

One of the ingredients I crave in autumn is saury. When I was in Japan, in September my wife would grill saury on a small grill in the backyard and we would sip Kirin Beer’s “Aki-aji” while enjoying it.

Here, I’ll share a small bit of saury trivia. In the Edo period, it was written with the characters for “three horses” to imply that eating saury gives you energy. Indeed, there is a proverb that says “when saury appears, the masseuse withdraws,” suggesting that those who eat the nutritious saury become lively and healthy.

Now, it’s unfortunate that there are few opportunities to eat saury in the United States. However, we can enjoy rich, delicious salmon year-round. Cooking salmon in a frying pan with salt and green onions and pairing it with California wine, Chardonnay, is delightful. If you don’t mind, please give it a try.

Hong Kong National Security Law

On June 30, the National People’s Congress of China passed the “Hong Kong National Security Legislation Bill,” and the law came into effect the following day, July 1.

This Hong Kong National Security Law is criticized by Western countries for undermining the “one country, two systems” principle and narrowing “Hong Kong people’s freedom.” Under the Hong Kong National Security Law, four acts are considered crimes: ① acts of secession (separation from China) ② anti-government acts (weakening the central government’s power or authority) ③ terrorist acts (violence or threats against people) ④ activities by foreign forces interfering in Hong Kong.

In response, on July 2, the U.S. Congress and Senate passed the “Hong Kong Autonomy Act,” which can sanction Chinese authorities involved in undermining Hong Kong’s autonomy and financial institutions that do business with those authorities. Later, on July 14, President Trump signed the act into law.

※Read the full translation here