Text | Hearing the sound of the green tree
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Sources: All of the information stated in this article is based on reliable sources, and is detailed at the end of the article
The yen that fell into the abyss
Through the speech of Federal Reserve Chairman Jerome Powell, financial practitioners around the world have realized that the dollar will continue to rise!
Before April 2024, the dollar index has risen a lot, and the currencies of Asian countries have depreciated a lot, to the point where they can no longer "depreciate".
As a result, Asian countries have taken measures to maintain the price of their currencies, but Japan has not moved, and the exchange rate of the yen has also "plummeted".
According to the normal economic situation, if the yen that can be exchanged for 1 dollar exceeds 155, the Bank of Japan will take action to stabilize the currency price and prevent financial chaos, and the depreciation of the yen has long exceeded this limit.
Therefore, many people believe that the Bank of Japan will soon intervene and that it is the momentum that will stop the yen from plummeting.
But on Friday, April 26, the Bank of Japan still acted like "nothing happened" and told the public that the Bank of Japan would not take an active monetary policy.
Even the governor of the Bank of Japan, Kazuo Ueda, did not make any statement to boost the yen and maintain the price of the currency.
Regardless of the Bank of Japan, the yen's downward momentum naturally became more and more turbulent, and on April 29, the exchange rate of the dollar against the yen even fell below 1:160!
(Shangguan News' report on April 28, 2024 on "The Bank of Japan Stands by and Watches, the Yen "Collapses"! How Much Does It Affect?)
The impact of the great depreciation of the yen is multifaceted, the Japanese people's expenses for food, clothing, water and electricity have risen a lot, and the import costs of Japanese enterprises have also increased suddenly, and the entire Japanese society is full of complaints.
But at this time, China has become the savior of the Japanese economy, and the Chinese have made great efforts to save the Japanese economy.
Buy a bag, buy a house, buy a luxury item!
As far as Chinese consumers are concerned, the yen has fallen to such an extent that luxury goods are not expensive! In April, many mainland consumers exchanged renminbi for yen and went to Japanese luxury stores to "shop."
According to Japanese media reports, most of the customers of Japanese LV are Chinese consumers! The reason why Chinese come to Japan to buy bags is very simple: in the case of the depreciation of the yen, the price of these luxury goods is 10% to 50% cheaper than that in China!
A 20,000-yuan carryall trumpet costs only 380,000 yen, or more than 17,000 yuan, in Japan! With such a large price gap, Chinese consumers will naturally not give up the opportunity to "pick up leaks."
For Chinese consumers, as long as they buy a bag, they will save money on round-trip air tickets, and many people even think that "the more you buy, the more you earn" and "you can't miss the opportunity, and you won't come back again".
As a result, Chinese customers have lined up in front of Japanese stores, waiting to buy expensive items such as figurines and LV bags. Some shops are still waiting for Chinese customers in front of their doors until they close.
In fact, as early as March 2024, many consumers in mainland China chose to shop in Japan due to the depreciation of the yen, and Miao Miao (pseudonym) was one of them.
In order to buy more, Miao Miao prepared two suitcases in advance! Even so, the shopping space was still not enough, Miao Miao bought two more boxes, and the shopping desire could be satisfied.
In addition to luxury goods, Chinese consumers have not forgotten the "traditional arts" - buying a house. For the matter of buying a house, the Chinese have always had a bone obsession, since the yen has fallen, Japanese housing prices are cheaper, how can the Chinese not buy?
The most popular property for Chinese consumers is the houses in the Olympic Village. After the Olympics, these houses were turned into civilian residences, allowing free buying and selling, coupled with a good geographical location and perfect infrastructure, the houses in the Olympic Village are extremely popular with Chinese.
(China-Singapore Jingwei, April 20, 2024 on "LV stores are full of Chinese!", under the depreciation of the yen, overseas tourists poured into "sweeping")
Of course, most Chinese buy these houses not to live, but to invest. Now these houses are in the "low grade", the Chinese buy decisively, and when the Japanese economy is normal, people will sell these houses and make a difference.
Aside from the Olympic Village, the houses next to the subway in Japan sell the best. Because of transportation, the B&B next to the subway has a good business, and foreigners who open a B&B in Japan can apply for a high-level talent visa.
In response to this, some people have bought houses next to Japanese subways. Some Chinese are quite "arrogant", and even exchange RMB into cash and go shopping in the Japanese property market!
There are more Chinese shopping in Japan, and there are naturally more tourists, after all, they are all here, and consumption and tourism cannot be less.
Great value for money to travel to Japan
There are two kinds of Chinese who travel in Japan: one is to go shopping in Japan and travel on a homeopathic basis; the other is to choose Japan as a tourist destination when the May Day holiday is approaching.
The May Day holiday is coming, the number of people applying for tourist visas has skyrocketed, and among the neighboring countries, the most Chinese do is Japan's tourist visa, and there are too many people who want to pick up the cheap.
There is a big difference between domestic tourist attractions and Japanese tourist attractions: the charge for natural landscapes. Admission fees are required for natural attractions in Japan, and the price is not low, while most natural attractions in Japan do not cost money, and only charge a small maintenance fee for scenic spots.
As a result, many people have calculated the cost of traveling, and finally found that the cost of traveling to Japan is about the same as the cost of traveling to Hainan, China! These people choose to travel to Japan because after all, everything they see when they go abroad is new.
In the first quarter of 2024, Japan's tourism revenue will reach 1.7 trillion yen, a large part of which is the "contribution" of Chinese tourists.
In order to serve Chinese tourists, many large shopping malls in Japan have voice broadcasts in Chinese, and even if Chinese do not understand Japanese, they will not have any "sense of loss".
(Chao News client's report on April 22, 2024 on "How much can I save? Exchange rate fluctuations, this "May Day" many Zhejiang people want to travel to these countries)
In order to attract more Chinese tourists, the Japanese government is trying to provide "visa-free" for Chinese.
Chinese used to apply for visa-free and needed proof of 200,000 annual income, but now they don't need it, and Chinese with first-line real estate can be directly visa-free!
There is nothing wrong with "Chinese shopping in Japan", after all, this is a normal economic phenomenon. But too many Chinese shopping, invisibly boosted Japan's economy and relieved Japan under the depreciation of the yen.
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