In the US, one exciting opportunity is in sustainable packaging, where volumes are moving meaningfully toward aluminium, which is infinitely recyclable and should have a lower overall life cycle impact compared to plastic.
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Japanese stocks have lagged their global peers so far this year, as uncertainty over US-China trade frictions and the impact on the global economy have clouded the outlook for corporate earnings.
Europe faces several challenges, specifically German manufacturing, trade wars and Italian budgetary pressures.
In an environment where no region presents an obvious opportunity from a valuation perspective in 2019, Japan offers investors the best chance to at least get access to a major market at something of a discount.
Europe's run of poor manufacturing and trade data continued in June.
Global macroeconomic indicators have undoubtedly become softer, as the US nears full employment and Europe's manufacturing sector continues to suffer from the effects of weaker trade with China.