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Japan – Haven or time bomb?
Although Japan managed to recover from the March 2011 natural disasters, domestic political risks and competition coupled with volatility of the global economy will hinder the nation’s and its banking sector’s recovery. December 23, 2011 | Doron FooFigure 1. Bank loans, public debt and M1 growth of Japanese banks (2006-2010) Please click to view enlarged image Japan’s exchange rate appreciated strongly as capital flock to the safe yen, affecting its export sector. This forced BOJ to intervene three times unsuccessfully in the currency market during 2011. Japan should follow the Swiss national bank in engineering negative forward interest rates to curb speculative inflows. Besides the economic crisis in US and EU, a hard landing in the Chinese economy will have considerable impact in Japan as China is the nations’ largest exporter with 21.4% of total exports in October 2010. With the highest level of public debt in the world (230%GDP in 2011e), Japan was... Please login to read the complete article. If you already have an account, you can login now or subscribe/register.
Categories: Asia Pacific, Databook, Industry Outlook, Japanasia pac,Databook,Industry Outlook,Japan, Asia Pacific,Databook,Industry Outlook,Japan, Keywords:BOJ, MUFG, Mizuho, SMFG, Morgan Stanley, Vietcombank, Public Debt, Bangkok Floods, Quantitative Easing, Public Debt, Bank Loans, NPL, Total CAR BOJ, MUFG, Mizuho, SMFG, Morgan Stanley, Vietcombank, Public Debt, Bangkok Floods, Quantitative Easing, Public Debt, Bank Loans, NPL, Total CAR
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