Japan cast as villain in global currency war drama

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  • -11

    Elbuda Mexicano

    What does Europe export?? A few cars? Wine? Compared to what Japan EXPORTS?? Please EU, GROW UP, clean up your own house and if you wan to complain, how about the CHINESE YUAN??!!

  • -9

    Tony Ew

    “Japan can’t deny that, in its heart, it thinks a cheaper yen is desirable for the export sector,” said Keiichiro Kobayashi, professor of economics at Tokyo’s Hitotsubashi University."

    Proof Positive Japan is a currency manipulator through the back door! Where are you America? So quiet?

  • 9

    JeffLee

    Abe's attempts to dominate and control the BOJ (ie, the money printing presses), which is supposed to be independent according to the law, was sure to create fallout. Hey, you break the rules, you pay the price.

    What does Europe export??

    That's pretty funny. I guess you've never ridden in an Airbus. What does Japan export? Every Japanese product I've bought in the last 10 years has been made in China.

  • 4

    letsberealistic

    @Elbuda

    Japan exports have been falling for the past 20 years with most production for Japanese products now overseas. European exports have been rising.

  • 1

    bass4funk

    @Elbuda

    Japan exports have been falling for the past 20 years with most production for Japanese products now overseas. European exports have been rising.

    Japan production is on the way down, 20 years ago, ever product was made and highly sought after, but now, especially in the US, good luck finding any Japanese products, everything is made in South Korea and China. Japan has lost it's luster and the Japan is going, it's not going to get it back anytime soon. El, believe what you want, but tell me, when you buy a TV or a cell phone and to a smaller extent, cars in the states, how many Japanese brands do you see?

  • 13

    Surf O'Holic

    This is the pot calling the kettle black. The complaining members have been actively devaluating their currencies by massive printing, injections, and other tricks, but if Japan does the same, they cry foul? Hypocrites.

  • 13

    hoserfella

    What does Europe export?? A few cars? Wine?

    I gotta hand it to ya, Elbuda. You really did some exhaustive research before making that statement. I had no idea the entire EU economy, worth $18 trillion has been propped up by the BMW 7 series and beaujolais nouveau alone.

  • 4

    tomatoflight

    If the currency is back up to levels like this permanently, I'd like to see more Made in Japan products. These days most of the stuff I see from them is made in China, Korea, or Mexico and quality has taken a toll.

  • 0

    Yubaru

    Personally speaking the devaluation has both helped and hurt me, helped in that filing for financial aid for my children's college education is based upon the lower rate and makes my overall income in the US quite a bit lower than previous years, which has made me eligible for more aid, and hurt in that the money that I now send to them is worth quite a bit less than before.

    Haven't quite figured out which is better yet, I'll know after next month and our first reply to our financial aid request.

  • -2

    JeffLee

    The complaining members have been actively devaluating their currencies by massive printing, injections, and other tricks, but if Japan does the same, they cry foul? Hypocrites.

    Not quite. Japan actually invented quantitative easing, back around 2000, and was the first to use it. It's also been active over the years with govt-orchestrated currency interventions. It's latest trick is to the bring the money printing presses under political control, which no one else is doing. The supreme trickster in all this is Japan.

  • 2

    YuriOtani

    The strong yen will destroy Japan, it is restoring it to 120 per dollar or risk a complete collapse. A bankrupt Japan will buy little from overseas. The rich will live like Lords and Ladies while the poor barely live. There will be so many new poor. Electric and fuel will be expensive and the population decrease will increase. Perhaps China could provide relief food.

  • -1

    herefornow

    Japan is being cast as the villain in a heated currency drama, accused of driving down the yen’s value to shore up its fragile economy,

    As well it should. Japan has had decades to re-structure its economy to make it less dependent on exports for growth. But, as is the Japanese way, it was much easier to kick-the-can own the road and simply artificially prop up the domestic economy time and time again with big spending packages. As a result, the domestic economy is one of the least efficient in the world, and now, to make things even worse, major exporting segments like electronics are also not competitive as well. So, again, rather than address the real issue, Abe is taking the easy way out and printing money. Japan shoul be ashamed of themselves.

  • 5

    Alex80

    @Surf O'Holic: completely agree with you! It's embarrassing.

  • 6

    Alex80

    Where are you America? So quiet?

    Usa is doing quantitative easing all the time, why do you think dollar is so weak, while Euro continues to be stronger than dollar even though Europe is in a very bad situation, currently wors than USA's? In Italian news I read tons of time that USA does quantitative easing.

  • 1

    Alex80

    wors*

    worse

  • 7

    Alex80

    About quantitative easing by FED: http://useconomy.about.com/od/glossary/g/Quantitative-Easing.htm

    By increasing the money supply, QE keeps the value of the dollar low. This made U.S. stocks seem like a relatively good investment to foreign investors, and made U.S. exports relatively cheaper.

    For this USA is quiet, ok Tony Ew? Of course, Europe isn't strong enough to bash USA, but they can bash Japan.

  • 6

    tkoind2

    Manipulating currency is frowned upon, Japan knew this before it started this policy. So shock, dismay and feeling the victim are all empty emotions for Japan in this case. Like the child swiping a cookie from the jar, they knew that getting caught would have consequences. I am sure they were prepared for them.

    The question is, does this really help Japan. We get so caught up talking about exports, but there is the other side of this coin that is a major issue too. Imports. Japan only produces 40% of her food, guess what side of the import/export wall the rest comes from.

    Then there is energy. Japanese people want Nukes gone, well, Japan doesn't have massive energy resources, so where does the oil, coal and gas come from? Imports.

    Many Japanese companies were also leveraging the strong yen to import goods for Japanese consumers. It kept prices down a bit and benefited the nation quite a bit.

    Let's face it. Manufacturing in Japan is a dead horse standing. Like it has been in most expensive countries. It will move abroad and exports will be done from those countries. So why fixate on exports alone when imports are an equally concerning factor?

    But then all of this assumes that Abe-nomics makes sense with inflation targets. The jury is still out on that, but as a normal Japanese working family looks at job loss, stagnant incomes, declining opportunities, rising costs, expensive energy imports and now Abe-made inflation, things are not looking good. If they worry too much, they stop spending and all that inflation does is kill off commerce.

  • -1

    Nathaw

    National Australia Bank (NAB) saw it differently, saying the comments were a “shot across Japan’s bows” that came as the Bank of Japan began a two-day policy meeting.

    Interestingly Aust and Canadian dollars have been appreciating for many years. Unlike Japan, they have no two faces for making their dollars depreciation. It is very painful for them to lose export markets and manufacturing jobs. Free market means Government have to hand out from central bank monetary policy. Aust and Canada do not interfere the market movement. They are good guys. Japan is a villain of currency nightmare for them.

    This is the pot calling the kettle black. The complaining members have been actively devaluating their currencies by massive printing, injections, and other tricks, but if Japan does the same, they cry foul? Hypocrites.

    Pot is a United States of Propaganda which is printing more and more for export competitiveness. EU is free and fair for manipulating the currency. US has two faces to tell others to let market to decide the exchange rate. On the contrast, they are doing opposite. EU is not printing more, they are lifting competitiness such as structure change. In Germany, there is no minimum wages. Unlike Germany, Japan is following US trend for currency war now.

    .

  • 0

    Letsbengoshi

    I don't mind Japanese officials, from Abe on down, goosing the Yen to weaken it some. I do mind that they're so shamelessly lying about it.

  • 1

    gaijinfo

    This is like if a bunch of people went to all you can eat buffet, and gorged themselves for hours. Then Japan gets up to get one more small piece of cake, and everybody cries bloody murder:

    "Hey! You shouldn't eat that! It's fattening!"

  • 3

    blendover

    The politicians can say what they like. Everyone knows that they are in the business of driving down the value of the yen. However, everyone also knows that the yen is still substantially overvaluedby the market in relation to the state of the Japanese economy. There is nothing ethically wrong with policies aimed at prodding the market into putting a more reasonable value on the yen. If the markets really believed the yen was inherently worth more, then the valuation of the yen would not have moved as quickly as it has.

  • 5

    Alex80

    Interestingly Aust and Canadian dollars have been appreciating for many years. Unlike Japan, they have no two faces for making their dollars depreciation.

    Comparing Australia and Canada to Japan is like comparing apples to oranges. Australia and Canada are plenty of raw material, it is their main export. No matter if their currency is strong, they'll always have a strong economy (indeed, the crisis isn't affecting them, basically). I wonder how yen could be so strong during the past years, also after the tsunami. Don't you think this was fishy? But, of course, Japan is the villain.

  • 3

    JoeBigs

    Wait a second, if the supposed currency multipulation by Japan is a global war, then the PRC's actions must be a Galaxy war.

    The PRC is practiced this for nearly 30 years and no one wants to speak up, funny.

    If Japan had slave labor camps and forced labor they too would be protected from these kinds of accusations.

  • 2

    tkoind2

    Exports are not the whole story people. Imports are an equal if not more significant issue for Japan. Food, fuel, and just about everything else is imported now. While wages are flat or in decline and consumer spending is already depressed.

    Raise the yen value and inflation and watch what happens to prices. Not national inflation, but real in shop price hikes and increased spending for families just to make do. Now imagine what that will do to elective spending. If shoppers stop buying even more than they already have, deflation or economic collapse will follow.

    Abe-nomics is short sighted and too focused on one aspect of the problem for Japan's economy.

  • 1

    Alex80

    @JeffLee:

    That's pretty funny. I guess you've never ridden in an Airbus. What does Japan export? Every Japanese product I've bought in the last 10 years has been made in China.

    Every Western product I bought in the last 10 years has been made in China too, included products of my country, Italy. Do you think Europe isn't delocalizing? About South Korea and China, if their currency was stronger, the situation would be different. South Korea is already a developed country, and their currency won't remain weak still for a long time. China is a different story. It will keep a solid competitiveness for many years.

  • -3

    FPSRussia

    Japan is manipulating the yen. It's pure aggression on every front possible. I agree that Japan is the villain. Just to be clear I'm agreeing with the article. I'm not name-calling. The article stated everything I would say about this situation.

  • 4

    Hiroicci

    When will they realise that it's their interests to see Japan's economic recovery??? Give Japan a weaker yen at around 100 yen to the dollar and let J companies and consumers take back their confidence, and they'll buy MORE goods from the US and the rest! Didn't they see how tight Japanese purses were with 70+ yen to the dollar? This is because many Japanese were worried about their future job and income prospects. Let them have less worry and spend!!!

    For a long time, the US lived with 100 yen to the dollar and the EU, 130 yen to the euro with no complains. Why the fuss now???

  • -1

    Disillusioned

    But a weaker yen is double-edged sword as it drives up import costs and makes overseas investment pricier.

    This is the major flaw with Abe-nomics. In the short term there will be benefits of topping up the coffers of the rich and shameless in Japan, but in the long term it is only going to increase debt, inflation and unemployment. There is no money in Japan, the government is broke, they are way in over their heads with debt, the pension system has failed and many of the larger manufacturing companies have folded, decreased their workforce or moved offshore. Japan needs to increase the value of the yen and globalise all its markets to bring money back into the country, but these twits want to do exactly the opposite.

  • 4

    Alex80

    The PRC is practiced this for nearly 30 years and no one wants to speak up, funny.

    I'm sorry for USA, but China isn't Japan, so they can't force China to appreciate their currency like they did with Japan with the Plaza Accord: http://en.wikipedia.org/wiki/Plaza_Accord I often read happy comments by Chinese people about the fact USA can't force China in something like this, and it's true. China is a real superpower, politically indipendent.

  • 7

    WilliB

    It is ridiculous to blame Japan alone. All the major economies have been doing this. Of course, if they all do it, it is a race to the bottom that benefits nobody.

  • 4

    John S. Whitford

    Japan is a villain for doing exactly what Abe said he was going to do? I'm shocked, SHOCKED!

  • 4

    Alex80

    It is ridiculous to blame Japan alone. All the major economies have been doing this. Of course, if they all do it, it is a race to the bottom that benefits nobody.

    Indeed. Also, this unilateral and absurd bashing will cause only an increase of Japanese nationalism. Japanese people will wonder why they are the only one to be blamed, when USA and UK are doing the same. BCE can't do it, for its own peculiar characteristics.

  • 4

    gokai_wo_maneku

    Japan can do whatever it wants. It gets the benefits and the consequences. Do people actually think the yen should be 75 to the dollar? That is a reflection of the completely trash state of the western economies after the US trashed the western economies. Everyone was running from the dollar. It will take a long time for the world to clean up the US trash. Good luck everyone.

  • 3

    gokai_wo_maneku

    @JeffLee You have to distinguish between "made in China" and "assembled in China". If you look inside, you'll see that nearly all products are assembled in China from mostly Japanese components. That is so when they are exported to the US, it becomes part of China's trade deficit with the US, not Japan. Let China deal with the trade friction. Sorry, mods, a little off topic, but that feeds into exchange rates too.

  • 3

    YuriOtani

    tkoind2 the importers benefited not the people. The workers were rewarded with unemployment and the consumers paid the same old price.

  • 0

    Nathaw

    Alex80 FEB. 14, 2013 - 09:52AM JST

    No matter if their currency is strong, they'll always have a strong economy (indeed, the crisis isn't affecting them, basically).

    It is true Aust and Canada are better off than Japan due to their natural resources. However I disagree the crisis isn't affecting them basically. In Canada, many qualified engineers are driving Taxis for putting food on table. Job market is not strong enough for absorbing all blue collar related workers.

    In Australia, once which were Manufacturing paradise of steel and coal have become ghost town. Coal is not affected by high dollar however steel is different story. Not all people in Aust and Canada are skilled for service sector. It has very high risk for blue collar job losses are creating permanent unemployment.

    Of course there are mining boom. That sector is very competitive for unskilled blue collars. It will create the social instability in the future. Resources boom will not last forever. Nauru was a resource rich nation like Aust and Canada too. It is no longer true.

    The problem of Japan export is not only currency issue. They have natural disaster and conflict with neighbours. Germany is resource poor like Japan. However it is enjoying export boom to booming Asia. Japan have to follow German model for structure changes. Currency is not only one factor for export competitiveness.

  • -3

    Tony Ew

    @DisillusionedFeb. 14, 2013 - 10:42AM JST

    But a weaker yen is double-edged sword as it drives up import costs and makes overseas investment pricier.

    This is the major flaw with Abe-nomics. In the short term there will be benefits of topping up the coffers of the rich and shameless in Japan, but in the long term it is only going to increase debt, inflation and unemployment. There is no money in Japan, the government is broke, they are way in over their heads with debt, the pension system has failed and many of the larger manufacturing companies have folded, decreased their workforce or moved offshore. Japan needs to increase the value of the yen and globalise all its markets to bring money back into the country, but these twits want to do exactly the opposite.

    Honest observation! Japan should just try to optimize her population like what Aso said before to bring down debt/GDP ratio. Not to insult the Japanese but Japan's **Machine Head **is gone! Japan can keep cutting corners to be competitive but just like US, Japan find it harder and harder to compete in Consumer Goods. Saving Sharp, Panasonic, Sony through currency manipulation will only be a temporary thing. They will fade away in a few more years or shrink drastically.

    Abenomics is NOT going to save Japan because other countries will soon do 'tit for tat' , so any advantages is only temporary, a year tops. Better break your taboo and bring in cheap immigrants. Follow the Singapore or Malaysian model where millions of cheap labors help the countries factories stay more competitive. Meanwhile the unemployed Japanese needs to be more entrepreneurial like in America perhaps? I know it is not easy!

  • 1

    praack

    the thing is, countries need to ease borrowing to make their economies more robust, Japan has been hindering itself for years. i would wonder if there is any influence from the largest neighbor in the Asian region - you know the country that owns a lot of debt of the world?

    because if Japan is kept hobbled it cannot rebuild or protect itself

  • 2

    gokai_wo_maneku

    @Tony Ew, Japan should have gotten out of consumer electronics 10 years ago, but we didn't. Production of consumer goods have to move to China and SE Asia. Japan should keep the materials and components sectors that other countries cannot produce (capital and knowledge intensive). Japanese companies are still very strong in materials and components. Then the exchange rate would fluctuate again, and a cheap yen will be advantageous to overseas companies who want to by the Japanese M and C. By the way, what is a "machine head"?

  • 7

    motytrah

    So a bunch of westen hedge funds that have been manipulating the currency up in the first place are whining that the yen is back to 2010-2011 rates? Cry me a river. When the exchange rate hits 140JPY to 1 USD I might start listening, but 93JPY to 1 USD? Whatever.

  • 3

    T_rexmaxytime

    The funny thing is both U.S and the U.K manipulates their currency prior to Abenomics with quantam easing and etc. Europe surely wants weak Euro so it can recover from the crisis as fast as it can. With weak yen, Germany will have tougher time competing with Japanese goods but it is a bit hypocritical since Germany is thinking of Europeans recovery over Japanese recovery. I guess times are tough lol.

  • 2

    gokai_wo_maneku

    @motytrah Ditto that here too.

  • 2

    Seirei Tobimatsu

    Tourism needs a lower yen. Will beautify Japan more than factories. Who other than nerds wouldn't enjoy meeting alright serving people more than operating machines?

  • -5

    Tony Ew

    @gokaiwomanekuFeb. 14, 2013 - 12:16PM JST

    @Tony Ew, Japan should have gotten out of consumer electronics 10 years ago, but we didn't. Production of consumer goods have to move to China and SE Asia. Japan should keep the materials and components sectors that other countries cannot produce (capital and knowledge intensive). Japanese companies are still very strong in materials and components. Then the exchange rate would fluctuate again, and a cheap yen will be advantageous to overseas companies who want to by the Japanese M and C. By the way, what is a "machine head"?

    Love that title Machine Head, Deep Purple album! Seriously I mean factories! You see whole town disappear when factories closed. The factories are the 'machine heads' , the ENGINE that drives the community. It can be anywhere, in US, Japan, even China when other cheaper labor forces companies to move off shore in order to survive.

    Japan still have the 'jewels' the R & D producing components that are critical for many stuff assembled in China for example. But as I said, wholesale manufacturing from A to Z is less viable due to cheaper Asian countries. Soon it could be India! Anyway as I said, Abenomics is just a temporary detour. Perhaps Japan should not push her luck and should stop printing more yen IMMEDIATELY. Pause! If exchange is 90 yen to a dollar, so be it, around that narrow trading range. Shooting for 100 yen to a dollar is asking for a real currency war to break out!

    BTW immediately solving the Diaoyu Island disputes will immensely benefit Japan. There must be some give here by Japan or it will never happen. Japan could benefit greatly from tourism and investments from Chinese instead of relying on currency manipulation to save a dying manufacturing base. Even my Japanese car only the engine made in Japan, all else from Australia, Canada !

  • -1

    Duane Da'Vein

    I don't get it. Japan is an honorable country in a world of dishonor.

  • 1

    viking68

    motytrahFEB. 14, 2013 - 12:29PM JST Cry me a river. When the exchange rate hits 140JPY to 1 USD I might start listening, but 93JPY >to 1 USD? Whatever.

    That sums up my point of view.

    Everyone is a currency manipulator. Japan finally decided to do something about it. Sure the plan is justified by targeting a 2% inflation rate, which is a better goal than allowing deflation.

    Besides, the hedge funds make money on Fx like day traders. They only want to see rate movements so they can make money. They don't care about the rate.

  • -1

    Ewan Huzarmy

    I don't get it Too true Duane Da' Vain ......... That's why you're a charisma man in japan !

  • -1

    jamestoday

    Japan is too honest in terms of world standard. Every country is doing the same to survive. Only Japan needs is to play a shrewd diplomatic game to handle not only the currency war but also politics of International Olympic Committee.

  • 4

    Wakarimasen

    Ridiculous. Few years back yen was 260 to GBP, now 130. skimilar moves on USD and EUR. Who has destroyed their currencies? Now it goes from 78 to 94 vs USD and all hell breaks loose

  • 1

    akkk1

    The PRC is practiced this for nearly 30 years and no one wants to speak up, funny.

    Only someone asleep for 30 years would say that. The politicians and press have been screaming about Chinese currency manipulation for years.

  • -1

    viking68

    The EU and US destroyed their currencies through the self-created banking crisis. As a result, Japan was the best investment bet in the world, and the yen gained value.

    I say self-created because the U.S. got rid of the rules prohibiting trading in derivatives and pulled back banking regulations and oversight. The EU liked that game and got in up to their necks in financial trouble. Not to mention the property overvaluations and governmental overspending in countries like Spain, Portugal, Italy, Greece, etc.

  • 0

    Antthom

    The US are complaining about the YEN but didn't the US try the same time years ago. China pegging against the US. Many countries are pushing pro local manufacturing at the expense of other countries. Everyone wants growth but there is only so much growth to be hard. I fear the only solution is start again and then we will have growth.

  • 0

    asybot12

    @hoserfellar, The EU economy of 18 trill is integrated into the global market yes, but it is mostly internal and @Nathaw I am not sure what Canada you are looking at. The Canuck buck has been on par with the US $ for at least 36 months. And the last time I took a cab in Vancouver and Victoria BC there were not many MBA's driving most of them are from the Indian or Pakistani areas, in Toronto they are from other countries. But then what the heck who cares about disinformation?

  • 4

    Surf O'Holic

    @jefflee,

    " Not quite. Japan actually invented quantitative easing, back around 2000, and was the first to use it."

    No, my friend, they weren't the first. It's an old game that has been played for a long, long time just under various monikers.

  • 0

    ThonTaddeo

    @Surf O'Holic: Indeed; it goes all the way back to the Romans debasing the metals in their sestertius. It didn't work for the average person then, it never has worked in all the instances it's been tried, and it won't work now. As usual, Taro Q. Taxpayer is left paying the costs

  • 0

    Kobuta Chan

    Just printing more Yen and leave Yen in overseas. The EU leaders will shut up when they tired. All countries have protect their country's interest. The problem is their and not for Japanese peoples.

  • 0

    Konsta

    Japan is not a villain. Japan is bound by G7 to be "good" and keep its currency stable and secure. Japan is bound to make yen as stable as the US dollar. However, with its 4% of foreign exchange reserves vs. dollar's 60% of foreign exchange reserves, Japan's yen is not stabilized by the whole world, but only by Japan, which is tremendously more difficult to handle in the times like today. Japan sees that this can't continue, but being bound, it has to outsmart the other "rich" members of this drama (and not to start a full-blown currency war). The member's are clearly less than excited, even though I am sure everyone understands Japan's motives, and moreover, would probably do the same in Japan's place.

  • -1

    Nathaw

    asybot12Feb. 14, 2013 - 07:20PM JST

    The Canuck buck has been on par with the US $ for at least 36 months.

    Like Japanese Yen, Canadian dollars have been appreciating for many years. Before they are depreciated against US dollar. Japan and Canada are not directly competing for export. However depreciation of Yen will make Canada products which are overlapped with Japanese products make more expensive.

    And the last time I took a cab in Vancouver and Victoria BC there were not many MBA's driving most of them are from the Indian or Pakistani areas

    Unlike Japan, Canada is an immigrant nation therefore Unemployment among immigrants are higher than Canadian born. However there are still highly educated Canadians have to drive Taxi for surviving. Foreign residents of Japan who have MBA and Phd have to work mineral jobs too however it is very rare for westerners. Currency exchange rate can make the labor market competitiveness too. There were also 75 (29.4%) Canadian trained PhD or MD taxi drivers according

    http://www.cic.gc.ca/english/pdf/research-stats/taxi.pdf.

    It is understandable that Japan want to increase export competitiveness for solving unemployment . Unemployment is a cronic problem for both Japan and Canada.

    Hope it will make you understand that I did not misinform that.

  • 0

    lucabrasi

    And the last time I took a cab in Vancouver and Victoria BC there were not many MBA's driving most of them are from the Indian or Pakistani areas

    1) How can you tell where somebody's from by looking? (I take it you didn't interview each driver individually). Back home in England, my friends Raj and Gurdip were born and raised in Birmingham and Manchester respectively.

    2) How does being Indian or Pakistani prevent someone from having an MBA?

  • 0

    davestrousers

    How can you tell where somebody's from by looking? (I take it you didn't interview each driver individually). Back home in England, my friends Raj and Gurdip were born and raised in Birmingham and Manchester respectively.

    Oh don't be so pedantically politically correct. Its quite reasonable to presume from someone's appearance and accent that they're from India, Pakistan or where-ever.. human beings are good at doing that. Bet I'd recognise that your Raj and Gurdip were from the UK before they even said a word.

  • 0

    Nathaw

    asybot 12Feb. 14, 2013 - 07:20PM JST

    Pls delete the last full stop of reference link as

    http://www.cic.gc.ca/english/pdf/research-stats/taxi.pdf

  • 0

    asybot12

    @nathaw I was just going to say, anyway unemployment in Canada is very stable and not high, I understand there is not a large trade system in place between Canada and the Japanese but that is to me largely the fault of the Japanese Government. The opportunities to Canadian resources such as lumber coal, natural gas,oil and other resources Japan needs badly have been there but the Government in Japan is reluctant (protective) in allowing access.So if you need to change things between these two countries start in Japan and change the attitude of the people and therefore the government of Japan .

  • 0

    asybot12

    @lucabrasi: As an immigrant to Canada myself I have always been curious as to where people are from, when I came to Canada many years ago it was a country of many different nationalities (even more so now) and to me it was never a question of race, religion or any such thing to me then and even now I feel no problem in asking any body may they be a cab driver a butcher or a professor as to where they are from to me it just opens avenues of communication. As in ; " hey man you are from Johannesburg or Dheli or Tokyo? wow tell me about those places I am from Delft. It feeds my curiosity and educates me.

  • 0

    Nathaw

    asybot 12Feb. 15, 2013 - 06:30PM JST

    I think you misunderstood my post again. What I mentioned in my last post was export competition between Japan and Canada. Not the two way trade between them. For example, both Japan and Canada export processed seafood. If J yen is low, Canada seafood export will be more expensive. If Japan can lower the wages of labor, Processed seafood will be cheaper. Therefore Japan can beat Canada for seafood market. Japan is more efficient in manufacturing too. If Canadian dollar is lower, Canada has advantage too.

    In your old post, you mentioned I posted misinformed about Canada. I have researched economy, unemployment and currency issue before posting. Now you have to agree me that both Japan and Canada have highly educated Taxi drivers and mineral workers. For Japan, Drivers lack the communication skills. However Canada is different. They are over supplied with highly academic immigrant people. Reality is there are not many jobs for them. Reality is both Canada and Japan have higher unemployment than official statics.

    http://www.huffingtonpost.ca/2012/05/11/canada-unemployment-apriln1508852.html

    http://www.economist.com/node/21549003/comments

    Someone who is highly qualified is no guarantee for getting white collar job in today labor market. Time has changed. Another factor is Canada domestic market is small unlike Japan. Small population means less employment opportunities.

    http://www.vancouverobserver.com/life/generation-lost-grads-struggle-find-work

    http://www.vancitybuzz.com/2012/10/job-struggles-continue-for-our-university-grads-job-market-considerations/

  • 0

    Nathaw

    Pls correct first sentence of 2nd paragraph as "I misinformed about Canadian labor market".

  • 0

    Nathaw

    Pls correct my first reference link as

    http://www.huffingtonpost.ca/2012/05/11/canada-unemployment-apriln1508852.html

  • -1

    Ewan Huzarmy

    Take the word 'currency' out of the headline and it's a portent of things to come.

  • -1

    issa1

    United states and europe miscalculated the negative effect of immigration .. then look at the result. The economy of the United States improved? No! The economy improved in europe? No!

  • 0

    asybot12

    Last time I answer. Can you tell me what is the difference between export competition and two way trade. They are both the same thing just semantically different because neither side initially is going to compromise!!!. As well my personal opinion is that you spend way to much time with graphs and stats and not reality. Do get out of the library and walk around , preferably Amsterdam, New York. Montevideo, Capetown or Moscow, life on the streets and the results you will notice dictate trade world wide, Just ask WallMart or McDonald's or any successful world wide venture they always HAVE to adapt to the culture they "invade" to BE successful that has to be a given!!. My observation also looks back at the Japanese culture, the minute anyone from anywhere is critical of the Japanese they become defensive. When will they open up to constructive dialogue?. (just look at our little back and forth)

  • 0

    asybot12

    And what I meant by my last sentence is that in our little back and forth you have had to back track a number of times.

    So tell me if. I was across from the table with you in a negotiation and the info you supply me with the first and second time we "talked" you have had to withdraw the next time we met. Where does the trust go after a few sessions I would not believe a word you said! And totally of topic is in your culture lying not an art valued as the top of success? (not that it isn't anywhere else on this planet :).)

  • 0

    asybot12

    issa1 I somewhat agree with your statement I just think that most nations were not ready for immigrants that were not going to assimilate, To me the fact is that all over the world immigration and the movement of people today is radically different from 60 years ago. Then movement then was mostly Caucasian and Christian between Europe and the "New World" with with most of those people with just about the same basic foundations. Today immigrants are coming from all over the planet in all directions to all different countries with many different religious, social and cultural backgrounds and the frictions that all of that brings. Many people have no clue where and how other cultures live so frictions are becoming more and more to the forefront and sadly the divisions are even getting stronger because few people have the time to sit and talk sense.

  • 0

    asybot12

    OK that's enough for one night good night all:)

  • -1

    Nathaw

    asybot12

    You obviously have little knowledge about trade and economics. Export competition means two nations exporting same goods and products to market. Market may be your homeland or any nation buying from Japan and Canada. For example, your homeland has market share of Japanese processed Tuna 35% and Canada processed Tuna 25%. Canada and Japan are competing for expanding more market share such as 40% of their export.

    Two way trade means, Japan is selling her cars to Canada. Canada is selling her natural gas to Japan. There is no third party involved. Export and Import between Japan and Canada only.

    I have no offense about your insult to Japanese and J culture. I am not Japanese. By the way, productive dialogue means you have to know about the topic. You have to have some knowledge about currency movement, unemployment and economy. If you have no information at all, it is not productive. For example, if I have to explain my old post again. We are not doing discussion at all. It is one sided feedback and more like academic course tutorial.

    When I posted my last post, I was working for my big project therefore I have some grammatical error and link problem. I do not mind whether it is convenient for you or not. I am doubtful you have read that links or not. If you did not you are not interested in that article. You are just interfering other discussion.

    I am self employed businessman for many years. I am not someone spending with books and Internet for debate. I have real life experience with trade, export and import and labor market statics. Although I am not living in Canada anymore, I can tell about Canada labor market, currency issue and economy. Right now, Canadian government has encouraged business to invest more about new plant and machinery due to the strength of loonie or Canadian dollars. When the dollar is strong imported machinery will be cheaper.

    Canadian and Australian government do not interfere the currency appreciation. They do not like Japan or US interfering market for boosting export.

    Pls research before you insult other.

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