A regional approach

Article Abstract:

Japanese finance officials now appear to favor a regional or global role for the yen comparable to that of the dollar and anticipate a trend toward regional currency blocs. Impatience with US unconcern about the dollar's slippage against the yen and deutschmark and an import-export imbalance in yen-denominated trade fuel this desire. Japan could ease some problems by paying for more goods in yen and the govt should be able to encourage other govts to build up yen reserves, but promoting intl yen borrowing is trickier.

Monetary policy, Yen (Japan)

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Slowly but surely

Article Abstract:

Japan's economy is slowly growing again but still faces a number of troubling areas. Real GDP in the year ending Mar 1995 may be as low as 1.1%, and fiscal 1995 projections range from 2.2% to 2.8%. Small manufacturers are not sharing in the recovery, as the strong yen encourages their main customers to look offshore for sources. Capital investment is also weak. The income-tax cuts announced in early 1994 have encouraged consumer spending, and the recovery may not need further government assistance.

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Paid to appear: thousands of Japanese have a job but no work

Article Abstract:

Japan's jobless rate is a low 2.5% but some people estimate as many as 3% more of the work force are on company payrolls but are doing no productive work. The country's businesses are entering their fourth year of declining profits, meaning many of these madogiwazoku, as they are called, may start losing their jobs. Companies are resistant to let people go due to potential public outrage, but the over-hiring that occurred in the 1980s may leave them with no other choice.

Unemployment

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