The depreciation of the yen has become the focus of attention at the moment. Japanese Prime Minister Kishida was smiling, while South Korea was devastated and Xi Yue even fainted in the toilet crying. Behind this incident is the spark of the Sino-Japanese foreign trade war, and it also reflects the fierce competition in the manufacturing industry of China, Japan and South Korea.
The depreciation of the yen is not a simple currency fluctuation, but affects the economic pattern of the entire region. The lifting of the ban on the Plaza Accord has unleashed Japan's production capacity and improved Japan's export competitiveness, which means a more competitive situation for countries such as South Korea.
In this competition, South Korea faces a huge challenge. South Korea's semiconductors and gasoline-powered vehicles are facing fierce competition from Japanese manufacturing, gradually losing their competitive advantage and increasing economic pressure.
South Korea's dilemma is not only about currency depreciation, but also about how to improve industrial competitiveness and how to deal with the challenges of Japan's manufacturing industry. How to find its own development path in the situation of Sino-Japanese foreign trade war has become a difficult problem to be solved urgently.
Faced with the impact of the yen's depreciation, South Korea needs to think seriously about how to respond. Only on the basis of strengthening our own strength and improving industrial competitiveness can we remain invincible in the fierce international competition.