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Japan faces struggle to overcome G-7 rift on yen, fiscal policy

6 Comments
By Leika Kihara and Tetsushi Kajimoto

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6 Comments
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“It’s just a way to say you did something when you did very little,”

Unique hospitality and a perfect mantra for the hosts themselves on so many fronts

0 ( +1 / -1 )

A long-winded way of saying "please cooperate when we manipulate the yen again and ask no one else to do the same. Excuse me. Thank you."

4 ( +5 / -1 )

It is not the yen but Abe''s politics in general which is struggling Japanese.

2 ( +2 / -0 )

"Exchange rate stability". Ha. Unless another country has policies that are directly targeting an exchange rate, Japan really doesn't have a reason to manipulate the yen.

1 ( +1 / -0 )

By definition, floating exchange rates are not stable, and the instability has only been exacerbated by decisions made by central planners. (You can't have your central bank increase the monetary base by a fifth of GDP per annum and expect stability to be a result.)

In Aso's definition of "exchange rate stability", it seems a crashing yen is acceptable, but any significant partial unwind of that is not. Despite it being primarily central planners' actions that crashed the yen in the first place.

0 ( +1 / -1 )

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