Concurrent with the interest rate hike by the Federal Reserve(Fed) at the beginning of 2022, the Japanese yen entered a fast track to depreciation. Since November 2022, however, as the Fed slowed its tightening pace a...Concurrent with the interest rate hike by the Federal Reserve(Fed) at the beginning of 2022, the Japanese yen entered a fast track to depreciation. Since November 2022, however, as the Fed slowed its tightening pace and as the Bank of Japan(BoJ)tweaked its monetary policy, the yen has regained some of the ground it lost. Overall, the yen has been characterized by strong volatility. The primary factor driving the fluctuations of the yen in the short term is the widening United States–Japan interest rate differential. From a mid-to-long-term perspective, the underlying reason behind the exchange rate movements of the yen is the BoJ’s monetary policy and the Japanese economy’s structural changes.The fluctuations of the yen are a mixed blessing for the Japanese economy;in the long run, however, they will do more harm than good. As for the world economy, turbulent yen fluctuations may trigger a fresh round of currency competition and disrupt the financial markets. Looking ahead, for long-term healthy economic development, Japan needs to cut down on its exchange rate dependence and restructure and upgrade its economy.展开更多
Japan's economic security strategy has a long history.However,Japan has significantly accelerated its economic security strategy in recent years,especially since the Kishida government came into power.At present,J...Japan's economic security strategy has a long history.However,Japan has significantly accelerated its economic security strategy in recent years,especially since the Kishida government came into power.At present,Japan is gradually forming a comprehensive economic security strategy that has clear strategic objectives,sound institutional settings,enhanced economic control,and closer external cooperation.The Japanese government is accelerating its economic and security strategy because of the changing international environment and Japan's own strategic considerations.Japan hopes to achievemany strategic goals such as improved economy and security through its economic and security strategy,but its strategic effect needs to be verified due to the constraints of many factors.展开更多
文摘Concurrent with the interest rate hike by the Federal Reserve(Fed) at the beginning of 2022, the Japanese yen entered a fast track to depreciation. Since November 2022, however, as the Fed slowed its tightening pace and as the Bank of Japan(BoJ)tweaked its monetary policy, the yen has regained some of the ground it lost. Overall, the yen has been characterized by strong volatility. The primary factor driving the fluctuations of the yen in the short term is the widening United States–Japan interest rate differential. From a mid-to-long-term perspective, the underlying reason behind the exchange rate movements of the yen is the BoJ’s monetary policy and the Japanese economy’s structural changes.The fluctuations of the yen are a mixed blessing for the Japanese economy;in the long run, however, they will do more harm than good. As for the world economy, turbulent yen fluctuations may trigger a fresh round of currency competition and disrupt the financial markets. Looking ahead, for long-term healthy economic development, Japan needs to cut down on its exchange rate dependence and restructure and upgrade its economy.
基金a phased achievement of the “Important Countries and Regions” Major Research Project of the National Social Science Foundation of China (Grant No. 20VGQ004)
文摘Japan's economic security strategy has a long history.However,Japan has significantly accelerated its economic security strategy in recent years,especially since the Kishida government came into power.At present,Japan is gradually forming a comprehensive economic security strategy that has clear strategic objectives,sound institutional settings,enhanced economic control,and closer external cooperation.The Japanese government is accelerating its economic and security strategy because of the changing international environment and Japan's own strategic considerations.Japan hopes to achievemany strategic goals such as improved economy and security through its economic and security strategy,but its strategic effect needs to be verified due to the constraints of many factors.
