Currency wars must be no stranger to everyone, and in this battle without gunpowder, Japan suffered.
Now that the yen has fallen to the level of 1990 against the dollar, the Bank of Japan cannot sit still.
But they can't reverse the current situation, and the yen's exchange rate against the United States has plummeted.
The exchange rate against the US dollar has fallen below the 156 mark, and the Japanese people are also miserable.
As a Japanese citizen, what does such an exchange rate represent?
It means that your money is inexplicably less! It's not a lack of quantity, it's a lack of value.
In other words, whether you spend the money in your hand or not, it will "depreciate" and cause you to achieve a negative income.
This is a huge blow to the people, after all, it is all hard-earned money, not a strong wind.
In fact, under the influence of the currency war, the whole of Asia has been affected, but not as severely as Japan.
The current situation of the yen can be described as a "collapse", and this "collapse" has also raised a series of problems.
That is, the number of tourists in Japan began to increase dramatically, but this is not a normal tourist, most of them are here to "make a profit"!
After all, the exchange rate of the yen continues to fall, and there are not a few people who take advantage of the momentum to grasp the "wool".
As for how to "pick wool", it is also very simple, you can refer to overseas purchasing.
To earn the difference, you just need to buy a plane ticket to fly to Japan and go to a luxury store to make a purchase.
And during this period, there were not a few "daigou" in China, and major luxury stores lined up in long queues.
Although the prices of luxury stores in Japan have not changed, as I said earlier, they are affected by the exchange rate.
Some countries with higher exchange rates than Japan can easily save thousands of dollars on one or two bags.
And for daigou, it is the "wool" they can get from it that saves money.
So why are so many foreign purchasing agents only Chinese? This is also very simple, China's consumption power is strong.
After all, it is a large country with a large population, and the more people who buy it, the more natural consumption power will go up.
Last year, the Japan National Tourism Organization conducted a relevant survey, and the spending power of Chinese tourists is the strongest.
Interestingly, however, the number of Chinese tourists is only the third, which is also a testament to the spending power of Chinese tourists.
Approaching May Day, it seems that Japan's sweeping frenzy should usher in a wave of "small climaxes".
In this environment, even if you don't do "daigou" to Japan, the cost of travel is quite cheap.
So what is the root cause of the continued decline of the yen exchange rate, and why did it lead to the "collapse" of the yen?
This has to mention the United States, where the "interest rate hike policy" has seriously affected the exchange rate of the yen.
The volatility of the US dollar also has a direct impact on global currencies, and in general, countries will raise interest rates along with it.
If it doesn't raise interest rates, it will end up with Japan today, so why doesn't Japan choose to raise interest rates together?
Because Japan can't, as for why it can't, it can only be said that this is the consequence of Japan's previous "overdevelopment".
After the end of the war, all countries were in the stage of "recovering from trauma", and Japan was no exception.
At that time, Japan was developing at a very fast pace and needed urgent treatment, but at this time, the United States appeared.
For political reasons, the United States implemented a certain degree of assistance to Japan.
Since then, Japan's economy has developed rapidly, and it can even be described as "taking off".
A qualitative leap has been made in a very short period of time, which is why Japan has become a developed country.
Japan's rapid development made it possible to "shoulder to shoulder" with the United States, but in the end Japan failed to surpass the United States.
Japan's GDP is growing every year, and the country as a whole is fully supporting development, but unfortunately the good times are short-lived.
Japan's development is said to be the nouveau riche making money, and there is a certain element of luck.
As a "nouveau riche", he is generally unable to grasp his own wealth.
After all, you don't get it by yourself, so it's inevitable that you will fall into trouble due to lack of experience.
However, as long as you make a mistake, it is particularly easy to "return to the pre-liberation period overnight."
Japan is indeed "planted", and it is very big.
Due to the rapid development of the domestic economy, many industries are about to be saturated, and a new "road" needs to be opened.
It was at this time that capital targeted the real estate sector, which is Japan's "bubble economy".
A large amount of capital investment has led to the rapid development of the real estate industry in Japan.
But in the real estate industry, everyone understands that in the eyes of capital, to put it bluntly, it is the same concept as stock speculation.
Because they don't have the so-called housing needs, the real needs are ordinary people.
Therefore, the house price of the base book has skyrocketed with the popularity of the house, and it is getting higher and higher.
Even if you look at it from the current perspective, it is estimated that a considerable number of people will shout "unbearable".
This has led to the phenomenon that people with real housing needs cannot afford to buy a house.
There are only a bunch of "house flippers" left to speculate with each other, but the value of anything is determined by market demand.
If there is no demand, it will naturally start to depreciate and fall in price, which will lead to the decline of housing prices in Japan.
Prices have been falling, but no one is buying a house, because everyone knows that it will continue to fall.
This has led to a vicious circle, and those so-called "speculators" have also stopped their losses in time early.
And ordinary people began not to buy houses, so housing prices fell again and again.
But even though house prices have become relatively reasonable, not many people are buying because new problems have arisen.
Housing prices have been high for a long time, and the real society in Japan has been affected.
The first is the decline in the fertility rate, no one gets married without a house, and naturally no children are born.
This is followed by the advent of the aging of the social population, which is an inevitable problem of declining fertility.
So these kinds of problems are superimposed, resulting in the Japanese people not only not buying houses, but even not spending.
And at that time, the wave of buying houses made many people take out loans to buy houses, and the money from the bank was also lent out.
From this perspective, you can understand if you look at the Japanese government's failure to raise interest rates.
This is because the interest rate hike itself is an act to curb consumption, but Japanese citizens do not consume in the first place.
If we suppress it at this time, how will Japan's economy develop?
Just as Japan was caught up in the currency war, the position of the dollar was shaken in the world.
Then the United States will definitely implement a policy of raising interest rates, which can well consolidate the position of the dollar in the world.
At this time, Japan will be embarrassed, and it will be in today's situation.
Therefore, a large part of the reason for the current situation in Japan is also influenced by historical developments.
But in any case, the trend of the yen depreciating has become a fact, and now the whole world is taking advantage of them.
At present, it is indeed beneficial to go to Japan to do "purchasing agents", but we ordinary people should forget it!
References to the article:
The Paper2024-04-29
May Day Holiday (3)|Japan has become the most popular outbound travel destination
Reference message 2024-04-27
The Bank of Japan "stood still" and the yen exchange rate hit a new low