A strong yen is good for Asia...

Article Abstract:

The Sept 10, 1999 level of the yen against the US dollar caused worry that Japanese exports might be hurt, but analysts point out that the yen's strength is beneficial to Asia as a whole. This is because Asia's economic recovery has been anchored on the strength of the yen. By allowing the fall of the yen's value, as the Group of Seven proposes, the recovery taking place in Asia would be jeopardized. At the same time, economists are pointing out that an increase in Japanese imports would stimulate Asia's economic recovery and long-term growth.

International economic relations, Intnl Economic Policy, Economic aspects, Asia, Group of 7

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... And Tokyo has lowered its sights

Article Abstract:

Japan has lowered its economic recovery goals to a long-term growth of 2% which, by itself also requires fundamental reform, according to the Economic Strategy Council. The lowered expectation is based on total GDP growth which is the totality of three factors, namely, labor force growth, capital stock growth and total factor productivity. If reforms are made a 3% GDP growth could still be a realistic goal. However, the required reforms would entail an initial period of social dislocation, higher unemployment and increased business failures.

Economic Programs-Total Govt, Administration of Economic Programs, Economic development, Gross domestic product

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Kuroda backs yen strategy

Article Abstract:

Japan's vice finance minister for international affairs, Haruhiko Kuroda, has announced that the government will move to prevent the untimely strengthening of the yen. Kuroda, who assumed his post in Jul 1999, also mentioned that, despite the strong performance of the economy in the first quarter of 1999, it is still premature to gauge the long-term strength of the Japanese economy. Kuroda, who agreed that the economy is showing signs of bottoming out, also gave advise on the slow changes involved in economic fundamentals.

Currency Stabilization Programs, Foreign Monetary Policy NEC, Laws, regulations and rules, Foreign exchange, Foreign exchange rates, Currency stabilization

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