Four years ago, someone exchanged 5 million yuan for 74 million yen, intending to settle down in Japan and enjoy life. Now the 74 million yen can only be exchanged for 3.5 million yuan. The depreciation of the yen has made the Chinese working in Japan feel the real "cold winter", and their wages are equivalent to evaporating by 30%!
On a sunny day four years ago, Mr. Zhang came to Japan with his family. He didn't come to travel, but with a large sum of money, ready to buy a house and settle down here. At that time, the 5 million yuan in his hand could be exchanged for 74 million yen, which was enough for him to buy a nice apartment in the center of Tokyo or Osaka according to the exchange rate and housing prices at that time.
Mr. Zhang chose Tokyo, a vibrant city, where he bought a comfortable house and started his new life. In the first few years, everything seemed good. His children are studying in Japanese schools, and his wife is gradually adapting to the rhythm of life in Japan. Mr. Zhang himself also found a good job, although the work is hard, but the income is stable, and the quality of life is gradually improving.
The good times did not last long, and the yen began its depreciation journey. Initially, this depreciation was not noticeable to Mr. Zhang. But as time went on, the rate of depreciation accelerated, and the effects began to felt. At first, what he noticed was the rising cost of daily living. He buys the same food in the supermarket, spending more and more yen, all from his salary, which has been reduced by the exchange rate.
Next is the issue of the house. The apartment he bought, which had a stable value before the yen's depreciation, has now shrunk in value due to the yen's declining value, and if converted into yuan, it is almost halved. This was a huge blow to Mr. Zhang, as most of his assets were invested in this property.
To make matters worse, as the yen continues to depreciate, Mr. Zhang's salary purchasing power has dropped significantly. His monthly income had allowed his family to live well in Tokyo before the yen's depreciation, but now he is feeling more and more struggling. Although his salary has not been reduced in name, it has actually decreased by about 30% when converted into yuan. This is undoubtedly a heavy blow to Mr. Zhang and his family.
The continued depreciation of the yen has affected not only Mr. Zhang's life alone, but also many foreigners like him who have chosen to work and live in Japan. Many of these people came to Japan for a better education and a better quality of life. Many of them have had a similar experience: trading relatively high foreign currency reserves for yen and investing in real estate or other assets in Japan.
The problem these foreigners are now facing is that their assets and incomes are shrinking as the yen continues to depreciate. This not only affects their quality of life, but also their future plans. Some are starting to think about whether they should stay in Japan, or if it's time to return to their home country, or if it's time to look for other opportunities.
The social repercussions are also great. Many Chinese living in Japan have expressed their anxieties and dissatisfaction through social media, feeling the financial pressure they have never felt before. For them, the depreciation of the yen is not just a game of numbers, it is related to all aspects of life, from daily expenses to the cost of children's education.
A common coping strategy is to cut expenses and find additional sources of income. Some people start working part-time, while others try to set up an online store and sell their wares. Others are learning about finance and trying to cover their losses through currency trading, albeit with higher risks.
The Japanese government is also very concerned about this. Although they strive to control the exchange rate through various policies, the volatility of the global economy complicates this effort. This is a difficult time for the Chinese in Japan, but it is also a time to test their ability and adaptability. Some of them have become actively involved in local community activities, hoping to improve their situation through collective strength.
Within the Chinese community in Japan, the discussion was also very intense. Some argue that foreigners who have been living in Japan for a long time should be more active in integrating into Japanese society, including learning more about Japan's finance and law, so that they can be more prepared to face similar situations. Others, however, feel that the best strategy is to remain flexible and ready to adjust their life and work strategies in response to changing economic conditions.
In the midst of all this, Mr. Zhang and his family are constantly adjusting their expectations and plans. They are beginning to pay more attention to their children's multicultural education, hoping that whether they stay in Japan in the future or not, the children will have a broader perspective and more choices. Mr. Zhang is also reconsidering his career path, considering whether he needs to further develop his skills or maybe move to other industries with more potential for growth.
The whole affair is not only an economic issue, but also a question of how to manage the future of individuals and families in the context of globalization. This is a challenging but also a time full of opportunities for the Chinese in Japan. Their choices and decisions will greatly affect their future quality of life and career development.