Monday, Jul 09, 2007
The article points out that the Yen
nikkei.net: ANALYSIS: Weak Yen Threatens Japan's Global Stature
Saturday"s Nikkei notes that the dwindling value of the Japanese Yen on a trade weighed basis has put the JPY at the lowest level in 22 years.The article states that while in the past Japanese authorities and Japanese industry thought that a strong JPY was bad and a weak JPYwas good, those perceptions are tarting to change.The article goes to saythe weak JPY has dented Japanese purchasing power is starting to impact on the quality of life by pushing up the price of all imports. The weak JPY also resulting in diminishing international presence of Japan.Gyoten Toyoo,a former vice-minister of finance for international affairs was quoted in the article as saying"A weak yen will reduce Japan"s presence in the world economy in the long run and thereby lower its international clout.
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