Yen for recovery splits Japan

Article Abstract:

Japanese firms can buy foreign assets when the Yen's value is high and can export even more when it is low, but the US wants a higher Yen value to reduce its trade deficit with Japan. Japan's total trade surplus is $132 billion and the US has a deficit of $50 billion with Japan. The US Treasury's Fred Bergsten said that the Yen was undervalued at 125 to the dollar and should be moved to between 100 and 110. After further pressure from the US Treasury Secretary Lloyd Bentsen the Yen moved to 118.20. The Finance Ministry and Bank of Japan oppose a stronger Yen as they fear its effect on the economy. The Ministry of Trade and Industry wants a stronger Yen because the country reacts well to threats and they can also cut jobs and blame it on foreigners.

Prices and rates, International aspects, Balance of trade, Yen (Japan)

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Japan's gangland boss has an image problem

Article Abstract:

Tokutaro Takayama, head of the Aizu Kotetsu yakuza syndicate of 4,000 members, believes in honour, giri - obligation to repay favours, and ninjo - compassion for the weak. An anti-yakuza law was passed in Mar 1992 to register, search and arrest yakuza members as members of violent organisations because since the late 1980s they have become involved with ordinary people in stock-market manipulation, property speculation ahd hotel devlopment. Mr Takayama thinks that this may make some more violent yakuza members become outlaws.

Laws, regulations and rules, Behavior, Interview, Japanese, Japanese (Asian people), Gangs, Takayama, Tokutaro

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Islanders tempted by a place under the sun

Article Abstract:

The 25,000 people of Etorofu, Kunashiri, Shikotan and Habomai, the Kurile Islands, feel that they are Russian but Tokyo is disputing their ownership with Moscow. The Japanese inhabited the islands until the Second World War, when the Yalta Agreement passed them over to the Russians. During the Cold War the Japanese attempted to resume sovereignty but no peace treaty has been signed. The islanders are concerned about their weakening economy but 75% voted to stay Russian in a 1991 referendum.

Japan, Political aspects, Russia, Japanese foreign relations, Russian foreign relations, Kuril Islands

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