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© KYODOIMF says yen's rapid slide may hamper Japan's post-pandemic recovery
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tttccc111
Only 3rd world countries would try to achieve economic growth through depreciation of their own currencies. World leaders? Japan is definitely not one of them
fxgai
0.8 percent increase is more “stable” than 2.0 percent, the BOJ policy is stupid and obvious from the way they misname it.
kaimycahl
When Japan does open up the economy will pick up, and this will be due to a surge of Chinese leaving China post pandemic to live in Japan. As soon as they can get away from China they will break away for Japan and other parts of the world but most will chose japan because of its close proximity. This will cause Japans real estate prices and apartments rents to rise beyond what the average person living in Japan can pay. This over flow will only contribute to more homelessness and a fight for survival.
Paul
How clever of them!!! As if we did not know that already!!!
dagon
I am very puzzled why a lot of people on this forum are so for tourism. That's certainly not the view of any of the Japanese people I talk to.
Exactly. Tourism creates many low-wage, dead end service jobs for a country's populace. That can disappear with the next pandemic/war and disruption in travel.
While like in Japan, the government will swoop in to bail out the hotel owners, airlines and shop owners and leave the industry workers scrabbling for a livelihood.
Bobo
Tourism would help some but that’ll be a long ways off and when it does there’ll be so many hoops that nobody will wanna come, that’s exactly how the gov and most people want it here nice and cozy and safe
Kyo wa heiwa dayo ne
Zoroto
Why your puzzled is a mystery being the majority on this forum are not Japanese.
And in response to your assumptions of tourism of international people this is obviously not correct either because of all the international outcry of borders being blocked to international tourism or to foreigners wanting to start business in Japan.
Not just Chinese.
Its futile to disagree with my comment that opening the border to international tourists will not help the Japanese economy.
Its not a Japan only world and Japan isn't independent without the international resources and commerce.
There's a plethora of Japanese companies just waiting for international tourism to happen and that's not disputable either.
Besides from being awefuly pessimistic what problem solving solutions have you recommended for Japan's struggling economy?
None ?
3RENSHO
"As competent as a bucket of slugs...!" Brilliant! I wish I had written that! In total agreement, and up-voted!
sangetsu03
The IMF are about as competent as a bucket of slugs floating in alcohol. I think they are upset with Japan for not following the economic narrative practiced by the rest of the west during the pandemic. Japan is in a uniquely positive situation right now, with a weak yen but without the inflation which is biting America and Europe. Japan remains a net exporter, and were it not for the increased import of fossil fuels to offset the nuclear power shut down, no one would be complaining.
Septim Dynasty
It's time that Japan should ask for an IMF bailout as South Korea once did.
YankeeX
Self inflicted through a decade of money printing and pumping up asset prices. China's economic slow down and worsening trade deficit will make 2022 a not so good year!
Legrande
Yet another consequence of losing the war but of course LDP benefits at expense of Japanese people as noted above
Newgirlintown
“Post pandemic”, are we ever even going to get to that point?
Alan Bogglesworth
Abenomics hard at work, turning Japan into a tourist trap alone was a very stupid idea indeed.
daito_hak
Returning to a steady growth? Another one living in a parallel work apparently. Japan has not achieved a steady growth for the last 30 years.
venze
IMF says yen's rapid slide may hamper Japan's post-pandemic recovery:
Doubtlessly.
Note: A weaker yen serves as a boon to exporters.
But it is threatening resource-scarce Japan, raising prices of imported energy & other commodities.
Weigh the pros & cons, what will follow..?
Kyo wa heiwa dayo ne
Just open up the border to international tourists and watch the Japanese economy rapidly bounce back.
There's alot of tourists that want to experience the traditional Japan before it completely disappears and especially with an enticing exchange rate.
Get it together Japan.
bogva
Simple logic is that if Japanese exporters rely on imported energy and resources to produce, they have to rise their prices and wouldn't be so competative abroad as well. What all those economists and BOJ are thinking?
kurisupisu
The yen is falling as there are diminishing returns to be had for just parking money in an interest bearing account in Japan.
The vortex of yen being changed into euros, dollars, pounds, gold, silver etc is growing to cyclonic status.
Peter Neil
BoJ charter is to keep prices stable and full employment. Treasury decides monetary policies.
SDCA
Many people will continue to save their money post-pandemic because this is what they were taught to do. Considering what disaster may come again on the horizon, I don't think we will see consumer spending returning to normal very soon especially with the price hikes and never changing wages. Our best bet would be the recover of tourism.
JeffLee
Japan, the world's biggest creditor, is the last country that needs IMF loans.
The government doesnt make monetary decisions. That's the job of the Bank of Japan.
Michael Machida
The Japanese Government Monetary decisions may hamper Japan's post-pandemic recovery as well.
Dango bong
I think it is more that they keep raising prices without raiding salaries
Namorada
I want the media to report on the diminishing returns of a weak yen for Japan’s exporters. The BOJ and common wisdom among Japanese is that exporters will benefit and so will the rest of Japan.
However, Nikkei suggested there has been benefits as more and more blue chip companies are moving industries overseas.
So Kuroda and the BOJs entire strategy is based entirely on an outdated Showa mentality, which is hurting all of us and designed only to give the BOJ “proof” that their policies are working.
dagon
The chief of the International Monetary Fund's Japan mission believes the yen's rapid recent slide could hamper the pandemic-stricken Japanese economy from returning to a steady growth pathway by raising import costs and hurting consumer spending.
The IMF goal from the beginning has been to impoverish workers and institute schemes of austerity to enrich worldwide financial interests.
The weak yen has been a goal shared by them and the LDP for the benefit of Japan Inc. and multinationals.
https://www.loc.gov/item/webcast-3889/
sakurasuki
And who in charge of with current Yen exchange value? Japanese government, what they've done so far? Just another subsidy https://www.reuters.com/world/asia-pacific/japans-ruling-party-seeks-jet-fuel-subsidies-govt-relief-package-2022-04-14/
Peter Neil
Maybe Japan should be a recipient of IMF loans to stabilize currency instead of being a large contributor of funds to the IMF?