In spite of their lower value currency...  | |  This post is all about Japan, and my curiousity about that country. Forgive me first for having this one posted under life, because I cannot think of the best topic in which I could post this one. I thought choosing the travel topic is more appropriate, but then realized travel has nothing to do with currency, and it is related to life. You know, commodities.
So my question is why is Japan considered, based on on facts, the second largest economy after the US in spite of their lower value currency? I mean, if you would compare it to the USD, the difference is huge. How come is it like that? How does their economy survive.
I know you might think that I should better go to the search engines and get the answers through there, but I have also in mind that I should know what other people think about what I think. Well thanks for those who read this, and for those who replied.
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| | | | | | | | 1.  r_yuen (165) | 1 year ago |  Lower value of currency make their exports become more competitive in terms of price. We know their quality isn't bad at all. Actually, Japan is the only country that adopt "zero" interest policy, but now they lifted up the interest become 0.5%. This make Japan currency, Yen, become a carry trade currency. Meaning, people are borrowing money from Japan because of their low interest to invest in another currency which has higher interest rates. This make Japan currency is very attractive.
Despite all that, we know Japan is the big producer of automobile and their technology is high. This make them as a strong country and their people are living in a very high standard. Living cost in Japan is really high but that won't be any problem for the Japanesse who majority has a high income.
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 tonijane016 (933) | 1 year ago | Thanks for letting me know those things about Japan. And I forgot to mention that Japan does not have poor people. All are living in the middle class. And in Asia, Japan is the only significant country that has managed to maintain 0% crime rate and 0% poverty. Thanks again. | |
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