Yes, exports are very important for Japan's economy. If in doubt, just imagine the impact on Japan without its export businesses. Its wealth has been based on its export business.Nobody realises that Japan is one of the least export-oriented countries.
Two thirds of Japanese economy is in the service industry, which is basically domestic business as Japan is not really strong in the service industries internationally.
If you don't have anything other than a meaningless (bull..) comment, I suggest you not post it. Sarcasm- and emoticon-infested comments can be tiring. Just a thought.Maybe so. But which country has "competitive service industry" ?
USA ?
But really, which country in the world today has a competitive service industry? Astroboy, I believe, is not off base in asking that question.
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Japan, being a non-debtor nation will probably come out somewhere on the top with China, Switzerland and a few other countries. With the Japanese yen being just about the strongest currency in the world today thanks to the unwinding of the carry trade, maybe one should be asking, will we see 60 or 50 yen per $ in the coming year or two? as there are quite a few, including Bloomberg News, that are predicting it?
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Astroboy, I do not why you were banned, but your info has been spot on as I have also proved what you have been saying with a little research..
The problem is that all the major economies have already invested in the Dollar denominated assets and financial instruments for so many decades.Sometimes Astroboy tried to be deliberately provocative but a lot of what he said was accurate. As for service industry competition, you have McDonald's and Denny's vs Freshness Burger and the local okazuya; medicine-cosmetic surgery is cheaper in Korea than Japan, and some transplant operations are better in the U.S. than Japan; business and IT consulting-the U.S. might have an edge (for now); upper level education-the U.S. wins; etc.
I can't see a complete meltdown for the U.S. and I think the dollar will retain some strength. BOJ is threatening to intervene if the fx reaches 85 yen/$. But, Obama's people are telling Japan, "Dont do it." I think we'll get a better idea of the economy after Obama's first 100 days in office--it's going to be interesting.
All the hard currencies are fiat money based on the confidence and trust in the entities which issue it. So, it is not a simply sum of total assets. Also, it is very complex to who owns what in the multinational business environment.We have a difference of opinion on a number of issues.
First of all, it's my belief that the value of the dollar is based partially on the value of total assets the U.S. presently owns but moreso on the value of the probable future growth of the total U.S. economy, so it's valued kind of like a share of stock in the U.S. as a whole. If the U.S. has no future prospects, then its value will dive but if there's hope for the future then it will retain strength.
McDonald's, Starbucks, and other Mac-job type of businesses do contribute to the economy. My point is the cashiers, attendants, food preparers, and other similar positions do not require high skills. So, it is a mote issue if you are comparing competitiveness for that type of service industries among different countries.Regarding service companies, I think the foreign revenues of service companies such as McDonalds, Starbucks, Disney Entertainment, etc. are not insignificant and adds to the competiveness of the U.S. Competitivenss is also enhanced by more professional services such as Accenture, Price Waterhouse Coopers, Wharton School of Business, etc.
Yeah, I also stopped reading his posts as he lost his marbles somewhere...inally, I think Astroboy knew what he was talking about even if he used figures from Wikipedia. We all are, afterall, kind of lazy and very busy. I think his language ability hindered what he wanted to say, but at least he tried. When he went off on the deep end about other countries, I just stopped reading.
But really, which country in the world today has a competitive service industry? Astroboy, I believe, is not off base in asking that question.
Could it be India for the USA where basically all customer service, including banks and local city government business have their customer service in India? It's a shame when I call my local phone company that I hear someone with an Indian accent pretending that they are American and living in America asking for my account number.
The impact on Japan of it's export business is being felt on a daily basis as it is in every other industrial country of the world today. However, one must look at China as they have a population of a billion people with many industrial countries having factories there. Therefore, one can say that they (industrialized countries) are "exporting" in a way, by building their factories to service 1/6th of the worlds population.
Therefore, much revenue will be heading back to the home countries as China expands and grows as they will probably be the only country to actually expand and grow, albeit it a slower pace, while rest of the world suffers financially and slowly enters into a one world bank and government in the next few years as the industrialized countries' stock markets get slowly depleted and the wealth is transferred to the elites in the most major transfer of wealth from the working class to the elites the world has ever seen.
Japan, being a non-debtor nation will probably come out somewhere on the top with China, Switzerland and a few other countries. With the Japanese yen being just about the strongest currency in the world today thanks to the unwinding of the carry trade, maybe one should be asking, will we see 60 or 50 yen per $ in the coming year or two? as there are quite a few, including Bloomberg News, that are predicting it?
Also, gold and silver will also be reaching stratospheric highs in the next year and then some as Bloomberg and Goldman Sachs (one of the 'elites') also hinted at. Those that fail to heed the 'hints' of the elites will be left broke as their fiat currencies (backed by nothing!) become worthless.
I just heard on Bloomberg news that gold will probably be at $1,250/oz by the end of the year. Why is this? Because, as it has always been throughout world history, gold and silver have been the only real currency the whole world will accept.
Astroboy, I do not why you were banned, but your info has been spot on as I have also proved what you have been saying with a little research. Maybe some people are angry at hearing the truth or do not want to accept believing that what they have been taught has been all lies when it comes to economics, business, and finance as well as government. However, in the next year or two they will soon come to understand as all the economies of the world slowly collapse into a one world banking, government, economic system with the elites controlling everything as they slowly consolidate into just a few companies with Goldman Sachs being at the top.
Obama's Treasury Secretary Geithner said he believes in the strong dollar policy. I am not sure how serious he is. The Bush Administration over the last 8 years also advocated the strong dollar without demonstrating any action to that effect. So, the markets are very skeptical.Obama's economic stimulus policies target expansion of job opportunities as the top goal, with a hearty scale of public investment to be carried out toward that end.
this is a declaration of the unbending resolve to not let up on stimulus measures until such time that the recession has been brought under control and the economy is on the road to recovery.
The market's response to this stance, however, has been harsh.
the market wants "reality over words."
market in the right direction, another and different dose of reality is required.
with the end of the administration of Bush, the political power of the USA has dipped to the lowest point since the end of World War II.
the U.S. economy, heavily dependent on outside capital for its health, finds itself deeply mired in recession amidst the exodus of such overseas money from its borders.
Under the current stagnant environment, in which Washington cannot possibly raise interest rates.
If the J-yen keeps going up against the dollar, Japan's export-oriented industries will be pummeled senseless, causing further downward pressure on the Japanese economy.
Investors and speculators are always in a hunt for a safe haven for their money. Once they get comfortable with the other markets (stocks, bonds in Europe, and others), the yen will start losing its value against the other hard currencies. Everything is like a water bet. One spot goes up; the other goes down. Everything is shuffling the money from one place to another to preserve their asset or catch an upswing of the market in this volatile economy
Regardless of the exchange rates, the US's auto market will stagnate for this year. Japanese exporters won't be able to increase production for the US market, as there is not much demand there. However, the favorable exchange rate will help them reduce their loss.This is great news for Toyota, Honda, Sony, et al..
The Japanese Yen will go back to JPY 100 to JPY 110 per 1 USD range in coming months. The strong yen we have witnessed for the last few months is not sustainable, given the severe weakness of the Japanese economy. Coupled with its current account deficit it just registered, the trend will be a weaker Yen.It has already reached 100 yen = 1 USD right?
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The new mark-to-market rule will help the U.S. financial system a bit
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It is 147% true that the new system helps the US banks, but is it OK to call it as "mark-to-market" in English? And I am just curious if banks would restart lending to hyper sub prime mortgage debtors who have already bankrupted.