politics

Aso says weak yen result, not goal of anti-deflation policies

9 Comments

The requested article has expired, and is no longer available. Any related articles, and user comments are shown below.

© (c) Copyright Thomson Reuters 2013.

©2021 GPlusMedia Inc.

9 Comments
Login to comment

“We have launched policies aimed at ending deflation. As a result, the stock price has risen and the yen has weakened,”

Yes, they've been using those policies in other countries as well. All you need is some nice paper and a printing press. Some pizza is good, too, because printing that much money gets boring after a while.

4 ( +4 / -0 )

A weaker yen does not bode well for Kim Jong Un's vast horde of counterfeit Japanese currency. What will he use to purchase all his Krispy Kreme doughnuts and AKB dvds with?

0 ( +0 / -0 )

Japan does not have primary industry ( except for fishing) . . . It depends entirely on manufacturing- and therefore needs to stay competitive on the international market . . . . . . . . . .South Korea and China also artifically keep their money value down .........................and no one is squeaking about that !!!!! .............Weakening the yen is not the entire answer- but it is a good beginning. ..............Sales of J products have increased overseas .....................For those who don't get it :Sales = jobs

0 ( +1 / -1 )

Well said semperfi, right on point. This global economic crisis will stay for a while, I think a weaker yen was unavoidable either way. How would Japan stay afloat if it does'nt play along right? The way this current low market is going is affecting everyone world wide. The great news is that for the most part, Japanese products have always been top of the line, I hope Japan keeps manufacturing them and not outsourcing their jobs.

1 ( +2 / -1 )

well they bloody should try to weaken the yen, it's at a crazy level. Even though I'm paid in yen and benefiting greatly from it (I save and export a large chunk of salary) it's still blindingly obvious.

0 ( +1 / -1 )

The weaker Yen hurts the Japanese people. As far as more sales=more jobs, in a way that is true but the jobs created are created in China. Japan companies have all moved to China and are trying to move to Myanmar. More sales does not equal more jobs in Japan. The idea of deflating the currency is extremely flawed as it will only make prices higher and the already struggling people will struggle more while the large corporations get richer. The corporations have already stated that they will not be hiring more people and will not increase pay. The only ones who win are the politicians and the corporations.

0 ( +2 / -2 )

Was he able to say it with a straight face?

3 ( +3 / -0 )

Japan is just playing catch up to the US who if anybody has been sleeping is the biggest currncy manipulator there is. if all these complainers dont like it then tell the US to stop all the quantitive easing that has caused the imbalance in the first place. The US will run out of trees before they stop printing money!!

1 ( +1 / -0 )

Japan, like other developed economies, has a weak economy at present. Likewise, the devaluation of its currency is as essential as the damage being done to it by inflation. Unfortunately, both these issues may be confused by some commentators at times. It confuses me that they seem confused anyway. The recent weakening of the yen has proved to be good for the Japanese economy but this will not be enough without falls in its real exchange rate and not simply in its nominal ones which means a rise in inflation will reduce the benefit that they get from weaker exchange rates. Mr. Abe appears to think that a more aggressive monetary policy would create inflationary expectations by encouraging big business to invest their surplus resources at home. Bearing in mind that Japanese businesses already invest a lot in Japan Mr. Abe's wishes are most unlikely to come into fruition. Personally, it is more possible for things to go the governments' way come April when the Prime Minister will appoint a new governor of the Bank of Japan more amenable to buying foreign assets-- and both Mr. Takatoshi Ito and Mr. Kazumasa Iwata, two possible candidates for the job, seem quite keen on the idea. We'll see.

0 ( +0 / -0 )

Login to leave a comment

Facebook users

Use your Facebook account to login or register with JapanToday. By doing so, you will also receive an email inviting you to receive our news alerts.

Facebook Connect

Login with your JapanToday account

User registration

Articles, Offers & Useful Resources

A mix of what's trending on our other sites