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© 2022 The Associated Press. All rights reserved. This material may not be published, broadcast, rewritten or redistributed without permission.Japan records trade deficit as imports surge on energy costs
By Yuri Kageyama TOKYO©2024 GPlusMedia Inc.
17 Comments
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Seigi
Economy has to be sacrificed in order to keep the population safe from Covid-19.
Bobo
Nice job Ldp they ruined the economy, don’t worry they’ll get in no matter what they do to Japan or it’s people.
William Bjornson
"Japan to double Ukraine aid to $600 million" -- Japan Today, 19May2022 [oh yeah...today!]
The world currencies are being debased (aka 'inflation') at a record rate. My primitive understanding of economics is that this may put a crimp in retail spending by countries in which this is happening (see: USA, UK, Japan, et alia), particularly new cars, but also many other Japanese exports. Hmm, but yes, let's send the shrinking national Gold reserves (see: Forex) to Ukraine to support a fascist government because the U.S. wants us to do that. What? ME worry? Deep recession? Naw, that's just 'fake news' to scare us like 'climate change'...oh, it's 50°C in Pakistan in May? Must be Putin's fault...
kurisupisu
Prices were moving higher well before the war in Ukraine-oil prices are coming down at present-surprise?
Too mich money dlowinto
companies and punters were getting loans to
rinse and repeat.
Energy shareholders sitting on massive stock gains.
Think the supply chains are broken?
I’ve moved goods to Europe 4 times this month-it takes three days to arrive on average.
No!
The problems are being fomented by the liberal flow of money to the wrong people.
The same way that airlines are hiking their fares to make up shortfalls in passenger numbers.
Now the little people are paying the price for the great debacle….
TARA TAN KITAOKA
As usual, there is plus and minus.
kurisupisu
People here just don’t get what’s happening.
Last year in March I sat in the the ANA lounge at Haneda where there were more staff than passengers-the same on the plane.
It was so good that I wanted to stay in the lounge!
However, ANA was buoyed up by large cash injections from the Japanese government.
I asked the staff how they were getting home as my flight wasn’t until after midnight.
“By taxi”
came the reply.
ANA was then and is now , completely skewed!
The same as thousands of other Japanese companies.
Well, now things are attempting to become normal
again but ‘normal’ is hard to find…
sethwright
Big thanks to dumbass LDP leadership that wasted decades on laissez-faire energy policy rather than choosing to lead on renewable energy.
It's now 2022 and Japan is trailing virtually every developed country on renewable energy market-share. Japan is even the US on EV penetration and all of western Europe on building electrification (replacing gas with IH and water heating heat pumps).
Kyo wa heiwa dayo ne
Japan is boasting again and as usual Ukraine is to blame
smithinjapan
A big round of applause for Kuroda and former PM Abe, as well as others who made the massive devaluation their goal for years. They kind of forgot that it doesn't really work in bolstering the economy when imports end up being exponentially higher as a result, and there is no foreign tourism happening, but it's not like they are economic experts or anything.
quercetum
Japan can’t get out of its 30 year recession without China. The US is already developed not to mention it is the US that’s keeping Japan in check. Both keep printing money big time.
proxy
The response will be to print even more money, causing the yen to drop even more, making energy imports even more expensive. An indecorous spiral down.
Chibakun
Yes right, with the oldest population on earth, that's gonna go down well. Paper cash is king in Japan.
JeffLee
The low yen and thus higher prices of imports are the result of the policies of the BoJ, not the LDP.
This isn't all bad news. Japan managed to boost its exports 12.5 percent over the past year. There are recovery trends in the economy, which would grow stronger once the Russia war and China lockdown problems are eased.
kurisupisu
Japan is onto a hiding!
While China takes up oil and gas (from Russia) at cheaper rates than the Europeans were paying and Chinese production costs are far lower than Japan, it doesn’t a crystal ball to see the future.
Japan will be less able to
compete in the near term and with a complete lack of vision in the LDP then things just will get worse here.