Japanese Prime Minister Shinzo Abe nominated Haruhiko Kuroda to be the next governor of the nation's central bank on the 27th—Kuroda is an aggressive conservative much like Abe and plans on taking swift action to help revive Japan's weakening economy.
Along with economic programs Japanese officials also plan to reopen previously-closed nuclear power plants. Tensions around the subject of nuclear power rose after the 3/11 earthquake and tsunami and the subsequent Fukushima nuclear disaster.
Another part of these aggressive policies involves the opening of several new schools, which officials hope will attract foreign students. Japanese citizens question why the country continues to build new schools when the youth populous shrinks in size.
Sources
Thursday, February 28, 2013
Thursday, February 21, 2013
Diplomacy, Yen and Murder.
Prime Minister Abe plans to speak with President Obama about the future of their security alliance as tensions rise in East Asia, and North Korea continues making threatening gestures to the rest of the region. Abe believes that US support is 'critical' in Japan's dispute with China.
In a country which is not known for capital punishment, the first three executions since September of 2012 took place on the 21st of February. Justice Minister Tanigaki. All three were convicted of murder—one of a girl, another of one man (he also injured several others), and the last of a bar owner for money. Other nations worry due to Japan's 99% conviction rate, largely based on confession.
The South Korean won, which used to be weaker than the yen, is now stronger as Abe's new policies to intentionally weaken the yen take hold and foreign investment picks up. Japanese officials predict this trend will continue as the yen approaches $0.01 in value. In-tandem with these new policies, Abe is playing it safe with diplomatic relations, doing nothing to provoke other nearby nations and lobbying allies for support.
In other news, a famous American resident of Japan, scholar Donald Richie, died in Tokyo on the 19th at 88 years old. "He spent most of the next 66 years in Tokyo, gaining a following among Western readers for textured descriptions of Japan and its people that transcended Western stereotypes," says NYT reporter Martin Fackler.
Sources:
In a country which is not known for capital punishment, the first three executions since September of 2012 took place on the 21st of February. Justice Minister Tanigaki. All three were convicted of murder—one of a girl, another of one man (he also injured several others), and the last of a bar owner for money. Other nations worry due to Japan's 99% conviction rate, largely based on confession.
The South Korean won, which used to be weaker than the yen, is now stronger as Abe's new policies to intentionally weaken the yen take hold and foreign investment picks up. Japanese officials predict this trend will continue as the yen approaches $0.01 in value. In-tandem with these new policies, Abe is playing it safe with diplomatic relations, doing nothing to provoke other nearby nations and lobbying allies for support.
In other news, a famous American resident of Japan, scholar Donald Richie, died in Tokyo on the 19th at 88 years old. "He spent most of the next 66 years in Tokyo, gaining a following among Western readers for textured descriptions of Japan and its people that transcended Western stereotypes," says NYT reporter Martin Fackler.
Sources:
- 22 Feb—Japan PM Shinzo Abe set for Washington talks with Obama
- 21 Feb—Japan hangs three death row inmates
- 21 Feb—Export Numbers Show Reversal of Positions of Yen and Won
- 18 Feb—For His Second Act, Japanese Premier Plays It Safe, With Early Results
- 19 Feb—Donald Richie, 88, American Expert on Japan, Is Dead
Thursday, February 14, 2013
Pollution, Fax Machines and their Economic Origins.
The government reported the third straight quarter of economical contraction, this time shrinking by 0.4%. This is due to previous shrinking of the yen—intended to encourage foreign investment—fell through as the yen quickly re-strengthened.
Now, Prime Minister Abe works to pass legislation to weaken the yen yet again, this time planning on bringing it up to converge on one dollar. Is has also lobbied national banks to aim for 2% inflation in contrast to current financial deflation. It is worth noting also that the current bank governor has resigned and Abe will appoint the new governor himself.
However, consumer confidence has risen now that Abe has taken office, and the Japanese people are confident in his policy-making skills.
Interestingly, fax machines are still a huge part of Japanese business, in spite of its being a boon for technological innovation. The general sentiment is that one ought not fix what isn't broken, and with that as many as 1.7 million households bought fax machines last year, and nearly 100% of Japanese businesses employ them for day-to-day communication.
This is perhaps a legacy of Japan's previous economic bubble, where it saw as much as 10% growth in the 1960s. Back then, Japan was known for dangerous levels of pollution much like Beijing has recently been criticized for—but today, Japanese cities are considered some of the least polluted and dirty.
Sources:
Now, Prime Minister Abe works to pass legislation to weaken the yen yet again, this time planning on bringing it up to converge on one dollar. Is has also lobbied national banks to aim for 2% inflation in contrast to current financial deflation. It is worth noting also that the current bank governor has resigned and Abe will appoint the new governor himself.
However, consumer confidence has risen now that Abe has taken office, and the Japanese people are confident in his policy-making skills.
Interestingly, fax machines are still a huge part of Japanese business, in spite of its being a boon for technological innovation. The general sentiment is that one ought not fix what isn't broken, and with that as many as 1.7 million households bought fax machines last year, and nearly 100% of Japanese businesses employ them for day-to-day communication.
This is perhaps a legacy of Japan's previous economic bubble, where it saw as much as 10% growth in the 1960s. Back then, Japan was known for dangerous levels of pollution much like Beijing has recently been criticized for—but today, Japanese cities are considered some of the least polluted and dirty.
Sources:
Thursday, February 7, 2013
Radars And More Tension, Local & International
On 30 January, a Chinese ship is said to have locked its missile-targeting radar onto a Japanese frigate in the Senkaku Island area, to which both nations claim ownership. China denies these allegations, but Japanese officials are considering disclosing radar data which may provide evidence to the contrary. This 30 January incident is the closest the two nations have come to actually exchanging fire, and both BBC and NYT have covered it extensively (7 of the 11 articles below cover the story).
A Russian plane entered Japanese airspace, in response to which Japanese air forces scrambled fighter jets. This incident caused Russian-Japanese territorial tensions to flare up once again, which have been quiet lately —perhaps due to the disputes between China and Japan. Of course, Russia denies these allegations. In response to this, Japanese officials have demanded Moscow investigate, after submitting a "severe protest" to the Russian Embassy in Tokyo.
It is worth noting that this incident happened to take place on the same day that Japanese citizens rally to claim ownership of the island chain (North of Hokkaido), which Russia has officially controlled for about thirty years.
The Governor of the Bank Of Japan (BOJ) has offered to step down before his term ends, in response to harsh pressure from the government. Prime Minister Abe is expected to replace him. This is, again, part of an effort of the Japanese government to revive the nation's suffocating economy.
Prime Minister Abe plans to meet President Obama later this month. At the same time, Abe has stalled a bill to relocate an American air base to Okinawa. This bill is already seventeen years old—passing the bill would be a good gesture to the US, but would sharpen Okinawan resistance and appear 'unprogressive' to Japanese citizens.
Sources:
A Russian plane entered Japanese airspace, in response to which Japanese air forces scrambled fighter jets. This incident caused Russian-Japanese territorial tensions to flare up once again, which have been quiet lately —perhaps due to the disputes between China and Japan. Of course, Russia denies these allegations. In response to this, Japanese officials have demanded Moscow investigate, after submitting a "severe protest" to the Russian Embassy in Tokyo.
It is worth noting that this incident happened to take place on the same day that Japanese citizens rally to claim ownership of the island chain (North of Hokkaido), which Russia has officially controlled for about thirty years.
The Governor of the Bank Of Japan (BOJ) has offered to step down before his term ends, in response to harsh pressure from the government. Prime Minister Abe is expected to replace him. This is, again, part of an effort of the Japanese government to revive the nation's suffocating economy.
Prime Minister Abe plans to meet President Obama later this month. At the same time, Abe has stalled a bill to relocate an American air base to Okinawa. This bill is already seventeen years old—passing the bill would be a good gesture to the US, but would sharpen Okinawan resistance and appear 'unprogressive' to Japanese citizens.
Sources:
- Senkaku/Diaoyu islands: Japan may release China radar data (9 Feb)
- China rejects Japan radar-lock allegations (8 Feb)
- Viewpoints: How serious are China-Japan tensions? (7 Feb)
- Japan-China islands dispute: Abe condemns radar lock (6 Feb)
- Japan protest over China ship's radar action (5 Feb)
- Japanese Premier Won’t Take Step in Relocating U.S. Base Before Meeting Obama (2 Feb)
- At Odds With the Government, Japan’s Central Bank Chief Offers an Early Exit (5 Feb)
- Japan Says China Aimed Military Radar at Ship (5 Feb)
- Japan Subsidy for Whaling Is Challenged (6 Feb)
- Tensions Flare as Japan Says Russian Planes Entered Airspace (7 Feb)
- China Denies Directing Radar at Japanese Naval Vessel and Copter (8 Feb)
Subscribe to:
Comments (Atom)