Chips with everything: Japan may lose in debate over managed trade

Article Abstract:

Japan, in meeting the 20% target for semiconductor imports imposed by the US, paved the way for further attempts to set managed trade targets. American electronics companies and government leaders such as Laura Tyson, chairman of the President's Council of Economic Advisors, are pleased with the success of numerical targets. Yet Japan's Ministry of International Trade and Industry still claims that numerical targets do not work and is resisting their application to other sectors, claiming the best solution is to stimulate the Japanese economy.

United States, Semiconductor chips, Integrated circuits, International trade, Japanese foreign relations, United States foreign relations

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Currency discount: Japan's retailers exploit strong yen

Article Abstract:

Japanese retailers are anticipating the rising yen's effects by cutting prices. Retailers, including department stores, supermarkets and automobile distributors, believe that the yen's 12% appreciation against the US dollar since Jan 1993 will render imports and then wholesale goods in general less expensive. Consequently, the retailers hope to protect themselves by lowering prices and cutting inventory. Price cuts are expected to reduce inflation but may not boost retail sales due to Japan's unresponsive distribution system.

Retail industry, Retail trade

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Yen on top: dollar and Deutschemark retreat from Japan

Article Abstract:

The Japanese yen emerged as the most stable currency in the market at the time of the fluctuations in the European Exchange Rate Mechanism in Sep 1992. This is because of investor's confidence in the overall soundness of the Japanese economy which has a low rate of inflation and a large current account surplus. The yen had appreciated by 3% against the US dollar and 6.6% against the Deutschemark as on 29 Sep 1992. The rise in the value of the yen is likely to increase Japan's trade surplus even further in terms of dollars.

Analysis, Cover Story, Foreign exchange market

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