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December 12, 2024
 

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Daniel Moss
South Korea’s currency recovered while its stocks fell Wednesday as investors braced for prolonged political uncertainties following a brief decree of martial law by President Yoon Suk Yeol.
COMMENTARY / World
Dec 5, 2024
Capitalism is the unsung hero of South Korean democracy
Capitalism, with its economic pressures and global integration, has been crucial in fostering democracy in South Korea.
The United Nations once projected the world’s population would peak at 10.3 billion in the 2080s, but now expects 700 million fewer inhabitants by 2100.
COMMENTARY / World
Dec 4, 2024
Why falling fertility is not a crisis
The current population decline mirrors past transitions like the industrial revolution, where smaller families fueled economic growth and innovation.
Beijing’s long-standing line has been a commitment to keep the yuan "basically stable.” But U.S. President-elect Donald Trump’s return — and his threat of tariffs — may test that.
COMMENTARY
Nov 27, 2024
China will send a weaker yuan to the Trump front
Beijing’s long-standing line has been a commitment to keep the yuan "basically stable.” But Trump’s return with his tariff threats may test that.
Bank of Japan Gov. Kazuo Ueda can point to Washington all he wants, but his inability to settle on a consistent message is part of what ails his nation's currency.
COMMENTARY / Japan
Oct 18, 2024
The yen pays the price for a timid Bank of Japan
Ueda can point to Washington all he wants, but his inability to settle on a consistent message is part of what ails his nation's currency.
While China's recent initiatives signal a willingness to address economic challenges, the road ahead remains difficult as the country's policymakers have yet to offer a clear road to success.
COMMENTARY / World
Oct 3, 2024
A stimulus is good, but China still faces a hard slog
Beijing is back in investors' good books. To justify the euphoria, it needs some meaty goals.
Looming interest-rate cuts by the Federal Reserve and a new hawkishness on the part of the Bank of Japan can make a claim for the yens recent movements.
COMMENTARY / Japan
Sep 13, 2024
Epic yen rally is a lesson in the lost art of FX intervention
Japan's own proactive currency interventions have played a crucial role in the yen's recent recovery.
Bank of Japan Gov. Kazuo Ueda "predictably unpredictable" actions and policy shifts highlight the need for improved communication, reflecting modern central banking practices.
COMMENTARY / Japan
Aug 28, 2024
How long can the BOJ get away with rate shocks?
The BOJ’s shifting policies and Kazuo Ueda’s unpredictable approach reflect the need for better alignment with modern central banking practices.
The yen’s depreciation is largely down to the gap in interest rates between the U.S. and Japan. Therefore, U.S. Federal Reserve Chair Jerome Powell is, to all intents and purposes, “Mr. Yen.”
COMMENTARY / Japan
Jul 1, 2024
There’s a new 'Mr. Yen' in town
No matter what the Bank of Japan or the Finance Ministry do, ultimate control over the yen's value lies in the hands of U.S. Federal Reserve Chair Jerome Powell.
Monitors show the rate of the yen against the U.S. dollar at a foreign exchange brokerage in Tokyo on Monday. Traders are falling out of step with the Bank of Japan, expecting hawkish steps that are instead met with a cautious approach.
COMMENTARY / Japan
Jun 24, 2024
Traders are out of step with the BOJ’s Ueda
Time and time again, traders predict that the Bank of Japan will take bold next steps, but these rarely come. That's because Gov. Ueda is, most of all, cautious.
BOJ Gov. Kazuo Ueda has talked about the potential need for a monetary policy response given foreign exchange rates’ impact on the economy. Last month, the yen touched its weakest level in 34 years, ¥160 per dollar, before rebounding.
COMMENTARY / Japan
May 20, 2024
BOJ Gov. Ueda finally toughens message on the weak yen
Though most of the factors behind the flailing currency lie outside of Japan, the central bank and Finance Ministry have some agency in determining events. They should use it.
Soldiers and police stand guard outside a South Korean Army boot camp in Yeoncheon county before the arrival of K-pop's BTS band member Jin, in December 2022. South Korea's economic success is often overshadowed by its cultural exports.
COMMENTARY / World
May 10, 2024
A surprise South Korean boom is going unnoticed
Despite its robust economic performance, South Korea often takes a backseat to neighboring giants like Japan and China.
The root cause of yen weakness lies in the U.S., not Japan, with the currency falling to its weakest since around 1990.
COMMENTARY / Japan
May 1, 2024
Japan should leave its currency bazooka at home
The root cause of yen weakness lies in the U.S., not Japan. That makes the latter's options very limited.
Ideal or not, the reality of the world is that one currency, the U.S. dollar, is first among equals.
COMMENTARY / World
Apr 18, 2024
Asian currencies can't fight the dollar on a rampage
Markets tend to reflect economic performance. And ideal or not, the reality of a world is one currency, the U.S. dollar, is truly first among equals.
BOJ Gov. Kazuo Ueda takes questions during a news conference. The bank's monetary policy overhaul announced last week was known by some Japanese media before it was made public.
COMMENTARY / Japan
Mar 25, 2024
The BOJ has sprung a leak. Japan must investigate.
The bank's policy of disclosing information selectively to certain media is harmful and needs to be looked into, as slip-ups in other countries show.
The Bank of Japan's recent decision to abandon negative interest rates is seen more as a symbolic shift.
COMMENTARY
Mar 21, 2024
BOJ finally ditches negative rates, but this is no liftoff
It's the end of an era for the Bank of Japan as negative interest rates are phased out.
Customers make a toast at an eatery in Tokyo. Many view Japan’s economy as being on the rise, and that of regional powerhouse China as declining. But how accurate is this narrative?
COMMENTARY / Japan
Mar 18, 2024
Japan is back, China is over. The trouble with narratives.
The idea that Japan and China's roles have flipped, with the former on the rise and the latter in decline, obfuscates important facts and trends.
Shi Pong Hsu, 75, makes coffee in a Singapore coffee shop. The city-state's government projects that almost a quarter of its population will be 65 or over by 2030.
COMMENTARY / World
Mar 10, 2024
Singapore is bracing for a super-aging society
Japan and South Korea may be the poster children for low birthrates, but Singapore is confronting its own decline. Its solution? Bonuses for nurses.
What is the BOJ hoping to achieve through tighter policy? The bank's governor, Kazuo Ueda, dissented in 2000, arguing then a hike was premature — and he was right. Why the change now.
COMMENTARY / Japan
Feb 29, 2024
Selling a rate hike during recession is tough. Good luck, Ueda.
What sounded like a statement of the obvious by Bank of Japan Gov. Kazuo Ueda last week — that a country where prices are rising by 2% is, in fact, experiencing inflation — has more to it than meets the eye.
BOJ Governor Kazuo Ueda at a news conference in Tokyo on Jan. 23. In it, he delivered a consistent message about the bank's intentions moving forward.
COMMENTARY / Japan
Jan 29, 2024
BOJ's Ueda finds his mojo as rate message cuts through
After some growing pains, BOJ Governor Kazuo Ueda finally delivers a clear message on the bank's intentions. He should keep at it.
The health of China's economy will always be a factor in how other Asian economies fare, and some of those are doing OK despite their larger neighbor’s woes.
COMMENTARY / World
Jan 19, 2024
The latest indignity for China’s flawed recovery
Neighbors whose economic fortunes were supposed to be tied to the heft of China’s rebound from the pandemic seem to be doing pretty well without it.
Firms should quit turning foreign workers into Japanese ones
Filipino housekeepers undergo training to work for a Japanese staffing company. By applying the same criteria when hiring overseas and local workers, Japanese firms tend to underutilize the unique skills that foreign nationals can bring.
Winter chill, hot baths and the risk of heat shock: How to stay safe
A health ministry survey showed that 5,824 people age 65 and older died in a bathtub in their home or other residential facilities in 2022, more than double the number of people who died in a traffic accident.
Nobel Peace Prize winner Nihon Hidankyo calls for a world without nukes
One of the representatives of 2024 Nobel Peace Prize winner Nihon Hidankyo, Terumi Tanaka, speaks during the Nobel Peace Prize awarding ceremony in Oslo City Hall on Tuesday.
Victim of alleged staged suicide was subjected to years of abuse
Manabu Sasaki, who runs a painting company, is one of four suspects arrested on suspicion of murdering 56-year-old Osamu Takano.
Keidanren urges tax hike for rich with eye on ¥1 quadrillion GDP
Keidanren chief Masakazu Tokura speaks to reporters in the city of Nanao, Ishikawa Prefecture on Nov. 20.
Yurie Collins: ‘Everyone seems sedated, fed-up … that’s why they turn to comedy’
Yurie Collins is a bilingual comedian based in Tokyo. In addition to being a prize-winning roast comic, her dating-themed "Tokyo Hoe Tales" shows have proven to be a hit with women of all nationalities.
Russia tie-up sparks fears of modernized North Korean defense industry
North Korean leader Kim Jong Un and then-Russian Defense Minister Sergei Shoigu visit a defense exhibition in July last year.
As Japan nears new climate goal, criticism of policy process ramps up
The government is preparing to set Japan’s new Nationally Determined Contribution, an emissions reduction commitment made by members of the United Nations climate framework's Paris Agreement.
Winter chill, hot baths and the risk of heat shock: How to stay safe
A health ministry survey showed that 5,824 people age 65 and older died in a bathtub in their home or other residential facilities in 2022, more than double the number of people who died in a traffic accident.
45-day negotiation window set to begin as Marines post Roki Sasaki
Roki Sasaki delivers a pitch during the first inning of the World Baseball Classic semifinal against Mexico in Miami in March 2023.

Podcast

One of the many entrances to the Kabukicho neighborhood in Tokyo’s Shinjuku Ward.
Kabukicho: Tokyo’s ‘stadium of desire’

Longform

People in cities across Japan will pop into their local convenience store for any number of products they believe will help them with a night of drinking.
Hangover cures are everywhere in Japan — but do they work?
By Thu-Huong Ha

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