Japanese Micro-Steps Toward The End Of An Era

By Wolf Richter www.testosteronepit.com
“Japan’s economy is likely to continue to face a severe situation for the time being, especially with respect to exports,” said Masaaki Shirakawa, the Governor of the Bank of Japan, when he was talking to business executives in Nagoya (Japan Today). He blamed the European debt crisis and the strong yen.
Whatever the causes—Eurozone chaos, dollar devaluation, yuan peg, etc.—the strong yen puts pressure on Japanese exporters to sacrifice

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