Japan’s Currency Causes Problems
Japan’s Currency Causes Problems
  • 이다현 기자
  • 승인 2013.04.02 20:15
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The world’s attention has turned to the issue of the devaluation of Japan’s currency. The value of the yen experienced a steep decline since the Fukushima nuclear accident. The main reason for this occurrence is that investors have been selling off Japan’s currency due to low interest rates, and they have begun to buy the U.S. dollar in expectation of an economic recovery in America.In addition, expectations of a relaxation in Japan’s banking laws has contributed to the phenomenon. Therefore, the price competitiveness of Korean companies has been weakened when dealing with Japanese export companies. There have been an increasingly loud call to prepare countermeasures in Korea to minimize losses. Experts said that Japan has experienced a short term stimulus effect since the value of the Yen has dropped. However, if concrete steps are not taken regarding over compensation of employee expansion in Japan it could cause an increase in prices and a long term economic slowdown.

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