Chief Economist, Aletheia Capital

Dr. Jim Walker

Jim Walker is the chief economist at Aletheia Analyst Network Limited, an independent research platform for the Asia Pacific region. Prior to joining Aletheia he was the founder and chief economist at Asianomics Group an economics and strategy research consultancy company formed in late 2007. 

Before establishing Asianomics he was the chief economist at CLSA Asia-Pacific Markets. He joined CLSA in late 1991. Over the years Dr Jim achieved numerous ‘best economist’ rankings in the Asiamoney, Institutional Investor and Greenwich surveys of fund managers. In 1995 he wrote about the prospect of Asia being forced off its de facto dollar peg “within the next two-three years”. The Asian Crisis, precipitated by the Thai baht devaluation, began in July 1997.

In recent years he is best known for forecasting the US 2007 downturn and financial sector meltdown in his series of ‘Apocalypse’ reports. He remains deeply sceptical of the prevailing wisdom in central banks’ approach to monetary policy.

Over the years he has also developed an approach to analysing Asian economies based on profit and credit cycles where the importance of investment spending as the driver of economic activity is explained.

Early in his career he worked in his native Scotland as a research fellow at the Fraser of Allander Institute for Research on the Scottish Economy, and then at The Royal Bank of Scotland’s Edinburgh headquarters. He holds a Bachelor of Arts Honours degree and a doctorate in economics from the University of Strathclyde, Glasgow.

Chief Economist

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Independent and original Asian investment research

Aletheia Capital

Aletheia Capital (HK) Ltd. (previously known as Asianomics) combines the extensive knowledge of its experienced team with technology and regulatory changes to disrupt Global Markets business in Asia. The firm is completely independent with no conflicts of interest either on Investment Banking advisory or Capital Markets execution.

Thematic (Sector/Industry)

Today, more than at any time since the fall of the Berlin Wall in 1989, there is talk of war. Donald Trump's bellicosity is his hallmark. In a reality TV host that might be entertaining but in the president of the United States, not so much. The latest stand-off has been between the White House and North Korea. Prior to that, it was the prospect of a renewed Cold War with Russia over its involvement in the Ukraine and Syria.Our thoughts too have turned to war but for us it is a type of war unknown in human history and nothing to do with Donald Trump: a war between the young and the old; between, potentially, members of the same family. Our war concerns are not just likely but inevitable. The reason for this gloomy prognosis is that, while our politicians have been sleeping and our central bankers have been finding ways to dig deeper into a hole of their own making, successive governments in the developed countries have promised the earth to ageing voters in election after election. Unfortunately for them the promises are about to fall due and, in this age of social media, the implications for future generations – increasingly small future generations – will not be hidden from view.These politicians and so-called economists have espoused and enacted policies that mean that the young have absolutely no chance of fulfilling their “obligations” ie, they do not have ability to pay for pensions, public worker salaries, benefits and public spending promises that have been made on their behalf. Only very few places on the planet can avoid this Armageddon. From our perspective, we are happy to report, Asia is one of them. But from a global perspective, unless the radical rejection of mainstream politics (and economics) that is sweeping the Western democracies at present can be channeled into a more informed and reasoned alternative, the outlook is dire. Europe is in a particularly bad place but the Americas, perhaps surprisingly, are not far behind.

Today, more than at any time since the fall of the Berlin Wall in 1989, there is talk of war. Donald Trump's bellicosity is his hallmark. In a reality TV host that might be entertaining but in the president of the United States, not so much. The latest stand-off has been between the White House and North Korea. Prior to that, it was the prospect of a renewed Cold War with Russia over its involvement in the Ukraine and Syria.Our thoughts too have turned to war but for us it is a type of war unknown in human history and nothing to do with Donald Trump: a war between the young and the old; between, potentially, members of the same family. Our war concerns are not just likely but inevitable. The reason for this gloomy prognosis is that, while our politicians have been sleeping and our central bankers have been finding ways to dig deeper into a hole of their own making, successive governments in the developed countries have promised the earth to ageing voters in election after election. Unfortunately for them the promises are about to fall due and, in this age of social media, the implications for future generations – increasingly small future generations – will not be hidden from view.These politicians and so-called economists have espoused and enacted policies that mean that the young have absolutely no chance of fulfilling their “obligations” ie, they do not have ability to pay for pensions, public worker salaries, benefits and public spending promises that have been made on their behalf. Only very few places on the planet can avoid this Armageddon. From our perspective, we are happy to report, Asia is one of them. But from a global perspective, unless the radical rejection of mainstream politics (and economics) that is sweeping the Western democracies at present can be channeled into a more informed and reasoned alternative, the outlook is dire. Europe is in a particularly bad place but the Americas, perhaps surprisingly, are not far behind.

World War Three: Part 1 – Falling Fertility