At the beginning of the year, the Japanese stock market skyrocketed. There are even securities companies in China that are openly optimistic about the Japanese economy, attracting many Chinese investors to flee from A-shares and buy Nikkei ETFs linked to the Japanese stock market, all of which are now trapped. There are also many self-proclaimed economists who advocate that Japan has come out of deflation.
In fact, the biggest beneficiaries of the yen's sharp fall were the influx of tourists and daigou who bought luxury goods and returned home to make money, which was immediate. But how much more can the Japanese economy benefit? Yen assets are still trapped there, and they have not promoted Japan's economic development.
These hateful unscrupulous economists or securities investment institutions persuaded everyone to buy Japanese wealth management products, but they disappeared by themselves. Their disregard for the Japanese economy is nothing more than the fact that they are economic vassals of the United States. Without independence, no matter how big the economy is, it is also a very risky financial asset.
Traditional economics holds that a falling currency exchange rate stimulates exports. This is not reflected at all in Japan. The reason is simple. Japan is not a big exporter, and many of its products are imported and then processed and exported, and the sharp depreciation of the yen has not brought much benefit to Japan at all.