Japan had record plunge in exports in November

Monday 22nd December, 11:22 AM JST

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14 Comments

some14some at 01:32 PM JST - 22nd December

Focus on 'local' market and try develop domestic economy atleast for once !
Samuraiiki at 01:57 PM JST - 22nd December

Amen to that! Did not previous American presidents promoted this idea to Japan and it fell to deaf ears? Can not take advise from outsiders because you feel so righteous in your own way of being? Then be prepared for any possible outcome even if it is not of your own liking.
YangYong at 02:16 PM JST - 22nd December

Japan has by far one of the most developed 'self-economies' amongst the industrialised nations. By far. The way it 'feeds itself' really is incredible, a real obvious example being the rate at which the Japanese are 'guided' through car usage. It is amazing. Japan has a firm foot to stand on, way ahead in diversifying its manufacturing base throughout the world, especially S.E. Asia. What is good for me is that this will scare those who see the Japanese economy as safe; they'll leave the Yen in droves and weaken it's relative value... beautiful equation of return.
rgetty at 02:47 PM JST - 22nd December

Live by Export, Die by export.
Azrael at 02:58 PM JST - 22nd December

Japan feeds itself? That is not the best analogy; the Japanese government is actually struggling to raise the self-sufficiency food rate. Japan is poor in natural resources and depends strongly on importing food and raw materials. Strong yen is VERY BAD NEWS for Japan. I was perplexed at the recent news here on JT about how Japanese consumers are indulging on shopping imported products. They should be SAVING now instead of spending on superfluous goods! Who is going to consume Japanese products if the yen remains so strong? And where will the money come from once exports decrease to an alarming point?

Ignorance is bliss.
smithinjapan at 03:12 PM JST - 22nd December

Azrael: Yang Yong is bang on (pardon the rhyme).

"The way it 'feeds itself' really is incredible, a real obvious example being the rate at which the Japanese are 'guided' through car usage. It is amazing."

This year employees of Panasonic received a 40% cut to their bonus, which is massive considering the number of employees and how much -- the housewives at least -- depend on it. For the remaining 60% there was one major stipulation in getting it; it had to be spent on Panasonic electronics' goods.

Also, look at the 'tax refund' we're going to be receiving next year; some people have pointed out that the government's intention of sending it into bank accounts by furikomi is a means to stimulate the banks. Imagine, every tax payer in Japan (and then some!) getting a return, with every single bank transfer giving the banks 450 yen! Simply sending the money to 10,000 people gives the banks almost 5 million yen. Japan's entire economy up to now has also been driven by unnecessary construction, which feeds those companies and the government coffers.

Anyway, you catch my drift.
Tatanka at 03:22 PM JST - 22nd December

2009 is going to be an ugly year. Recovery will take at least three years to begin. First the temps are being let go, then it will be the over 50 regular workers -- bonuses will become a thing of the past. And just wait until Obama puts the US government printing presses in high gear to print that 2 to 3 trillion dollars for public works projects -- I project the yen will shoot up to 75 by the summer of next year....
Azrael at 04:59 PM JST - 22nd December

Smithinjapan: Thanks for your insightful post, but you missed my point. I speak about food and resources; you tell me about taxes and refunds. It's not the same thing, yet the second depends on the first.

Temps and permanent workers are already getting fired in higher numbers than previous years. That I think, is an important indicator. I wouldn't expect those refunds and bonuses in the same fluency next year. There are harder times ahead.
YangYong at 07:29 PM JST - 22nd December

Smithinjapan: Thanks for your insightful post, but you missed my point.

Azrael, perhaps it was too subtle; as it is you who missed the point of the original post. It wasn't directed towards the production of food or resources but the 'system' of self-contained capitalism Japan has established, a loop of consumerism if you like, for example, as originally posted:

a real obvious example being the rate at which the Japanese are 'guided' through car usage. It is amazing

and as SJ further demonstrated through his Panasonic example
ptolemy at 07:36 PM JST - 22nd December

Japanese exports plunged a record 26.7% in November on falling demand amid a deepening global recession, the finance ministry said Monday.

Stare into an abyss and it stares back at you. Waaaaaaaaaaaaaaaaaaaaaaaaaaaaaa! Its a long fall to the bottom ain't it?
justmeinto at 08:19 PM JST - 22nd December

The main problem in Japan is that the pens do not draw well on the down curve, designed only for drawing the graph upwards. As an aside, Japan self sufficient? Best joke I've heard for a month!
tokyokitty at 10:03 PM JST - 22nd December

Japan will get by. Being a small country and world's second largest economy. Fear not, as japanese are hardworking people, they just need to "gaman" more and "fighto" more;)
shiuu at 10:11 PM JST - 22nd December

Hold on everyone, it's going to be a bumpy ride.
rajakumar at 08:23 AM JST - 24th December

Japan needs to boost its cash in bank. Japan should take more loans from US federal reserve,china and others to boost currency supplies and boost economy in japan.

Exports will increase if japan and USA economy starts going up via proper stimulus ideas and other plans.

No.1 and no.2 economy must cure themselves before global exports/imports goes up. Rest of world will also be in slowdown if USA,Japan,EU and others are in slowdown.

Global nations with strong savings must try to give more loans that will rectify global exports and imports to increase.

The USA,EU and Japan should up exports and imports to rebuild global economic trade excellence. There is going to be bumpy ride but together all nations, can put more shock absorbers in global economic engine machines.