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休眠預金法案 公正性の確保へ審議を尽くせ

2015-08-31 09:00:21 | 英字新聞

10年以上休眠状態ったって、それは人のお金でしょう。
人権無視の狂った法案の可決には反対です。
これも多数決で押し切るつもりなのはみえみえです。
安倍首相はそろそろ退陣の時期ではないでしょうか。
少数意見を尊重するのも民主主義の大切なポイントです。

The Yomiuri Shimbun
Bill on using dormant accounts must be deliberated to ensure fairness
休眠預金法案 公正性の確保へ審議を尽くせ

A nonpartisan group of lawmakers has compiled a bill to use money in dormant bank accounts — accounts that have had no deposit or withdrawal activity for more than 10 years — for social welfare and other purposes.
 お金の出し入れが10年以上ない休眠預金を、社会福祉などに活用するための法案を、超党派の議員連盟がまとめた。
 
The group said that it would submit the bill for passage during the current Diet session.
 今国会に法案を提出して、成立を目指すという。

Every year, about ¥50 billion worth of deposits are categorized as dormant and recorded as profits of financial institutions. Britain and South Korea have a system to use such funds to support welfare and other activities. The nonpartisan group drafted the bill based on those and other examples.
 休眠預金は毎年、約500億円発生し、金融機関の利益に計上される。英国や韓国では、この休眠預金を福祉活動などの支援に使う制度がある。議連は、こうした例も参考に法案を作成した。

The bill stipulates that the money would be used for various welfare activities, including assistance for children, youth and impoverished people. But if depositors subsequently claim their money, it would be repaid, according to the bill.
 活用の対象として、生活困窮者や子供・若者に対する支援などが明記されている。預金者から請求があった場合は、休眠預金の払い戻しに応じる。

We think the bill’s aim to use such funds to improve welfare while paying due consideration to protecting depositors is reasonable.
 預金者保護に配慮しつつ、「眠れる資金」を福祉向上に役立てる趣旨は妥当だろう。

Private-sector organizations would be entrusted to distribute the funds to foster activities beyond the reach of the support from the government and other public-sector organizations. To coordinate the distribution, a general incorporated foundation called a “designated utilization organization” would be created.
 国などの公的支援が及ばない活動を助成する狙いから、資金配分を民間団体に委ねる。その司令塔が、一般財団法人として新設される「指定活用団体」だ。

This organization would choose several fund distribution organizations from among incorporated foundations around the country. Through the fund distribution organizations, aid funds would be given or loaned to nonprofit and volunteer organizations working on welfare projects.
 活用団体は、全国の財団法人などから公募で複数の「資金分配団体」を選ぶ。この分配団体を通じて、実際に福祉事業に取り組むNPOやボランティア組織に助成金の給付や貸し付けを行う。

With the wisdom of private-sector organizations involved, we expect the money to be used for assistance in a way that suits situations on the ground.
 民間の知恵を生かし、現場の実情に合った支援が行き渡ることを期待したい。

Legal compliance important

However, it is worrying to see that there are not a few who doubt if the bill guarantees fair and transparent distribution of the funds.
 気がかりなのは、法案の内容に関し、公正で透明な資金配分が行われるのか心もとない、とする声が少なくないことだ。

They particularly find problems concerning good governance and legal compliance of the envisaged utilization and distribution organizations. Many of them point out that measures to prevent corrupt conduct such as payoffs from fund recipients are obscure.
 活用団体と分配団体のガバナンス(組織統治)やコンプライアンス(法令順守)に関する問題提起が目立つ。特に、支援先からの利益供与などの不正を防ぐ手立てがあいまいだとの指摘が多い。

Both organizations, which would broker a huge amount of funds, would require strict management.
 多額の資金仲介を担う両団体には、厳格な運営が求められる。

New Cabinet Office ordinances would be made to set up details of the system to use the deposits, according to the bill. However, we think that a law should include more details concerning regulation to secure fair distribution of aid funds, such as an auditing method.
 制度の詳細は、内閣府令などで定める方向という。だが、監査の在り方など、資金配分の適正さを確保するための規定については、法律でもっと明確に定める必要があるのではないか。

A measure to prevent people involved in the distribution of funds from providing “peer support” to organizations they belong or are related to is essential.
 配分に関与する人物が所属、関係する団体への支援など「お手盛り」を防ぐ措置も欠かせまい。

After all, money in dormant accounts belongs to the account holders. As much of this money as possible should be returned to the original depositors. Britain and South Korea have an online system enabling the public to check easily whether they have dormant accounts. Japan, too, should consider efforts to reduce the amount of dormant deposits.
 そもそも休眠預金は預金者のお金である。できるだけ減らすことが望ましい。英国や韓国は、休眠口座があるかどうか、一般の人が気軽に調べられるオンラインシステムを設けている。日本でも減らす工夫を検討してはどうか。

It is important to win the public’s understanding of the system to utilize dormant deposits by eliminating various suspicions about it. The Diet should thoroughly deliberate the bill to improve the envisaged system.
 休眠預金の活用策を巡る様々な疑念を解消し、国民の理解を得ることが重要だ。より良い制度とするため、国会は法案審議を十分に尽くすべきだ。

(From The Yomiuri Shimbun, Aug. 30, 2015)

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自民党総裁選 無投票再選も前向きな選択肢

2015-08-30 15:52:48 | 英字新聞

アベノミクスでは国民は永久に幸せになれない。
アベノミクスで幸せになれるのは大企業と株で儲けている人たちだけでしょう。
無能と称される民主党時代のほうが、人々は豊かに暮らすことができました。
高齢者にとっては民主党時代の政策のほうが幸せでした。
嫌な時代となりました。いったいいつまで続くのでしょうか。

The Yomiuri Shimbun
Unopposed reelection of Abe as LDP leader a positive course
自民党総裁選 無投票再選も前向きな選択肢

We think it appropriate that the schedule for election of the Liberal Democratic Party president has been decided from the standpoint of lessening its effects on Diet deliberations of the security-related bills, which are the most important business in the current session.
 今国会で最も重要な安全保障関連法案の審議への影響を小さくする観点を重視して、自民党総裁選の日程を決めたのは、妥当である。
 
Since Prime Minister Shinzo Abe’s term as LDP president expires at the end of September, the main ruling party decided to hold its presidential election on Sept. 20, with the official campaign period to begin on Sept. 8.
 自民党が、安倍首相の9月末の総裁任期満了に伴う総裁選について、8日告示―20日投開票とすることを決定した。

An LDP presidential race at the expiration of a presidential term is normally held before an extraordinary session of the Diet in autumn. However, since the current ordinary Diet session has been significantly extended, the upcoming election is held during the session — an exceptional situation.
 任期満了に伴う総裁選は通常、秋の臨時国会前に行われる。今回は通常国会の大幅延長に伴い、異例の国会開会中となった。

The LDP considered other schedules, such as holding the vote on Sept. 27 with a campaign period starting on Sept. 15. However, since deliberations on the security-related bills are a little stagnant at the House of Councillors, the party has decided to hold the election as early as its election regulations permit after examining its effects on deliberations of and voting on the bills at the Diet, as well as a scheduled trip abroad by the prime minister.
 自民党は、15日告示―27日投開票の日程案なども検討した。だが、安保法案の参院審議がやや停滞している中、法案の審議・採決や首相の外遊日程への影響を考慮し、総裁選を規定上、最も早い日程で実施することにした。

In the presidential race, Abe is highly likely to be elected again without a contest.
 総裁選では、安倍首相が無投票で再選される公算が大きい。

All seven factions of the LDP, including the Hiroyuki Hosoda faction of which Abe was originally a member, have decided to support the prime minister. With such moves, the factions apparently aim to win posts for their members in the Cabinet reshuffle and the changes of LDP executives expected in October after the current Diet session adjourns.
 首相の出身の細田派など、党内の7派閥は、そろって首相への支持を決めた。国会閉会後の10月の内閣改造・党役員人事におけるポスト獲得をにらんだ動きだ。

Shigeru Ishiba, minister in charge of vitalizing local economies, competed with Abe in the LDP leadership race in September 2012, but he does not intend to run for the presidency this time because he is currently a member of the Abe Cabinet. Former LDP General Council head Seiko Noda is trying hard to run for the election but is said to be having difficulty collecting the support from 20 LDP lawmakers required for candidacy.
 2012年9月の総裁選で首相と争った石破地方創生相は今回、閣内にいることもあり、出馬しない意向だ。立候補を模索する野田聖子・前総務会長は、推薦人20人を確保できないとみられる。

No rival candidate

Considering the prime minister’s achievements in the last three years, it is certainly not easy to field a rival candidate. Abe has built a strong political foundation by scoring crushing victories in two House of Representatives elections and one upper house election. Even after a drop, his Cabinet still has a public approval rate above 40 percent.
 確かに、首相の3年間の実績を踏まえれば、対抗馬の擁立は簡単ではあるまい。衆院選2回と参院選に大勝し、強固な基盤を築いた。低下したとはいえ、40%台の内閣支持率も維持している。

In September last year, Abe reshuffled his Cabinet but retained ministers necessary to keep its basic frame, such as Chief Cabinet Secretary Yoshihide Suga and Finance Minster Taro Aso. At the same time, he appointed Sadakazu Tanigaki as LDP secretary general and Toshihiro Nikai as LDP General Council head, both executive posts of his party. The Abe regime has been made stable with his strategy of placing political heavyweights in important posts in anticipation of a long-term government.
 昨年9月には、菅官房長官、麻生財務相ら内閣の骨格を維持しつつ、党執行部に谷垣幹事長、二階総務会長を配した。長期政権を見据えて、重厚な布陣を敷く戦略が安倍体制を安定させている。

If several candidates run for the presidential race, it is likely to create an opportunity for policy discussions on the course of Japan for the next three years. However, can the LDP afford that now?
 複数の候補が総裁選に出馬すれば、今後3年間の日本の針路に関する政策論争を行う機会になる可能性はある。ただ、今の自民党にその余裕があるだろうか。

The global economy is destabilized, and the recovery of the Japanese economy is at a standstill. Is it really productive to spend energy on making counterproposals to Abenomics, the prime minister’s economic policy package, and fighting among members of the same party?
 世界経済は不安定化し、日本の景気回復も足踏みしている。首相の経済政策「アベノミクス」に対立軸を掲げて、政権内で戦い、エネルギーを費やすことが、果たして生産的なのか。

The security-related bills are extremely significant in terms of securing the peace and safety of Japan and the surrounding region, but the understanding of the bills is not necessarily spreading among the public.
 安保法案は、日本と地域の平和と安全を確保するうえで極めて重要だが、国民の理解は必ずしも広がっていない。

With Diet deliberations on the bills entering a crucial phase, it is also difficult to secure the environment necessary to hold a full-scale presidential election, including arrangements for a stumping tour of candidates around the country and voting by party members.
 法案審議が大詰めを迎える中、全国遊説や党員投票などを伴う本格的な総裁選を行う環境を確保するのが難しい事情もある。

It may be a positive course for LDP members to unite under Abe to overcome difficult challenges.
 難局を切り抜けるうえで、自民党が一致結束することも、一つの前向きな選択肢ではないか。

(From The Yomiuri Shimbun, Aug. 29, 2015)

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橋下氏維新離党 何とも分かりづらい内紛だ

2015-08-29 07:35:48 | 英字新聞

The Yomiuri Shimbun
Hashimoto’s departure from JIP caps baffling intraparty squabble
橋下氏維新離党 何とも分かりづらい内紛だ

Conflict within the Japan Innovation Party has spiraled into the departure of two members who founded the party. Many people must be baffled at the events that led to this.
 維新の党の内紛が創業者のダブル離党に発展した。この経緯には、多くの国民が首をかしげているのではないか。
 
Toru Hashimoto, supreme adviser of the JIP and also Osaka mayor, and adviser Ichiro Matsui, who is also Osaka governor, have both announced they will leave the party.
 維新の党の橋下徹最高顧問(大阪市長)と松井一郎顧問(大阪府知事)が、そろって離党を表明した。

Hashimoto said he “plans to shift his focus from a national political party to Osaka’s regional politics” for Osaka gubernatorial and mayoral elections, which will be held in November. In the background to his decision was a lack of confidence in JIP leader Yorihisa Matsuno and other party executives, and there is a possibility that this intraparty friction could lead to a split.
 橋下氏らは、11月の大阪府知事選・市長選に向けて「国政政党から離れ、大阪の地方政治に軸足を移す」と語った。背景には松野代表ら執行部への不信感があり、党内対立は分裂含みとなった。

The origin of the squabble was JIP Secretary General Mito Kakizawa’s support for an expected candidate in next month’s Yamagata mayoral election who also was backed by the Democratic Party of Japan and other parties. Matsui regarded this as problematic and demanded Kakizawa resign from his party post. Kakizawa refused to step down. Consequently, Matsui lashed out at Kakizawa and some other members, saying, “They’re addicted to what’s going on in Nagatacho,” referring to the Tokyo area that is considered the nation’s political nerve center.
 発端は、柿沢幹事長が来月の山形市長選で、民主党などが推す立候補予定者を応援したことだ。松井氏は問題視し、柿沢氏の辞任を要求したが、拒否された。このため、「永田町ボケしている」などと柿沢氏らを激しく批判した。

As the JIP’s local organization in Yamagata had been maneuvering to support another expected candidate, party headquarters had refrained from supporting any specific contender. Although it is undeniable that Kakizawa’s actions, which disregarded the party situation, were indeed careless, the general consensus is that he had not done anything that warranted his resignation.
 市長選では、党の地元組織に別の立候補予定者を支援する動きがあり、党本部は特定候補の支持を見送った。そうした事情に配慮しなかった柿沢氏の行動が軽率だったのは否めないが、辞任するほどではないとの見方が一般的だ。

The decision by Hashimoto and Matsui to step away from the party was overly abrupt and shows a lack of responsible attitude.
 橋下、松井両氏が今回、離党に踏み込んだのは、あまりに唐突であり、責任ある態度ではない。

Questions must be raised about the behavior of two politicians who wield tremendous influence over the running of the second-largest opposition party. In particular, it is difficult to understand why Hashimoto left the party while he accepted Kakizawa staying in his post.
 野党第2党の運営に強い影響力を持つ政治家の振る舞いとしては疑問視せざるを得ない。特に橋下氏が柿沢氏の留任を容認しつつ、離党するのは分かりづらい。

Keep security talks on track

Matsuno’s inability to bring this fracas under control also displayed a lack of leadership.
 松野氏も、今回の騒動を収拾できず、指導力不足を露呈した。

Hashimoto and others are close to Prime Minister Shinzo Abe and have taken stances toward the administration on an issue-by-issue basis. In contrast, Matsuno and Kakizawa have placed great emphasis on working with the DPJ and other parties, so a policy conflict continued within the JIP.
 橋下氏らは安倍首相と近く、政権に「是々非々」の姿勢を取ってきた。一方、松野、柿沢両氏は民主党などとの連携を重視し、路線対立が続いていた。

The party is scheduled to hold a leadership election in November. It is possible that many of the party’s Osaka-affiliated lawmakers in the Diet and local assembly members might follow Hashimoto, who is skilled at conveying messages to the public, and leave the party en masse. Such repeated splits and political realignments, which have been done so easily, will make it harder for the JIP to gain the support of the public.
 11月に代表選を控えているが、発信力が高い橋下氏に「大阪系」の国会・地方議員が追随し、大量離党に踏み切る可能性もある。安易に離合集散を繰り返すだけでは国民の支持は一段と離れよう。

This is a crucial moment for the JIP.
 維新にとっては正念場だ。

We also are concerned about the impact of the party’s ructions on discussions regarding security-related bills.
 気がかりなのは、安全保障関連法案の審議への影響である。

The JIP has submitted five counterproposals to the House of Councillors and planned to hold negotiations with the ruling coalition parties about possible amendments to the bills. It also is considering the joint submission — with the DPJ — of a territorial security bill and other bills.
 維新は対案5本を参院に提出しており、与党と修正協議に臨む予定だ。領域警備法案などの民主党との共同提出も検討している。

Wide gaps remain between the government-sponsored bills and the JIP counterproposals, so the negotiations were expected to be anything but smooth. Even so, it was hugely significant that constructive discussions were to be held on a range of key points.
 対案と政府案の隔たりは大きく、修正協議は難航が予想されるが、様々な論点について建設的な議論を行う意義は小さくない。

Hashimoto stressed, “When the security bills reach an important phase, it is not the time for internal dissension.”
 橋下氏は、「安保法制で重大な局面の時に内紛をやっている状況ではない」と強調している。

We hope Matsuno and other JIP bigwigs will sincerely engage in talks on possible amendments to the bills. The JIP’s ability to remain a “responsible opposition party” is on the line.
 松野氏ら執行部は、修正協議に真摯しんしに対応してもらいたい。維新が「責任野党」に踏みとどまれるかどうかも問われている。

(From The Yomiuri Shimbun, Aug. 28, 2015)Speech

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企業年金改革 多くの人が活用できる制度に

2015-08-28 10:41:24 | 英字新聞

The Yomiuri Shimbun
Make corporate pension programs accessible for more employees
企業年金改革 多くの人が活用できる制度に

It is important to make many people eligible to participate in corporate pension programs, as a means of supplementing public pensions.
 公的年金を補完する手段として、多くの人が企業年金を活用できるようにすることが重要だ。
 
A bill to reform the corporate pension system is under deliberation at the House of Representatives. The government aims to get the bill passed into law during the current Diet session.
 企業年金改革関連法案が、衆院で審議されている。政府は、今国会での成立を目指している。

The central pillar of the bill is to review the defined contribution pension system, in which subscribers choose how their pension premiums should be managed, with the amount of their pension benefits to be determined by the results.
 法案の柱は、加入者本人が掛け金の運用方法を選び、その結果で年金額が決まる確定拠出年金制度の見直しである。

The bill calls for establishing “simplified defined contribution pension plans,” with the establishment procedures to be simplified so as to make it easier for even small and midsize corporations to introduce them for their employees.
 中小企業でも導入しやすくするため、設立手続きなどを簡素化した「簡易型」を創設する。

The bill also envisages creating a system to support the subscription of more people, by creating “individual-type defined contribution pension plans” for employees of companies unable to have such plans on their own and for self-employed people. Under this system, corporations, if only small and midsized firms, can add their contributions to their employees’ pension premiums.
 自前で制度を持てない会社の社員や自営業者向けの「個人型」についても、加入を後押しする仕組みを新設する。中小企業に限り、会社が社員の掛け金に加算できるようにする。

A corporate pension plan is a program to be established by each corporation voluntarily in addition to the kosei nenkin corporate employees pension scheme, part of the nation’s public pension system.
 企業年金は、公的年金である厚生年金の上乗せとして、会社ごとに任意で設ける制度だ。

As the level of benefits paid under the public pension system declines against the backdrop of a low birthrate and a graying population, the role of corporate pension plans is growing.
少子高齢化で公的年金の給付水準が下がる中、その役割は高まっている。

It is appropriate for the corporate pension plan to be utilized by workers other than only those at big companies.
 大企業の社員以外にも、普及を促す狙いは適切である。

At present, among subscribers to the kosei nenkin scheme, fewer than 40 percent also participate in corporate pension programs. And the ratio of companies that have introduced corporate pension programs is declining. Among smaller firms, with 30 to 99 employees, only 18.6 percent have introduced such programs.
 現在、厚生年金の加入者のうち、企業年金に入っている人は4割に満たない。企業年金を導入している会社の割合は減少傾向にある。社員30~99人の中小企業では18・6%にとどまる。

Major programs dissolving

On top of this, kosei nenkin kikin (corporate employees’ pension funds), which once were the leading corporate pension programs, are to be dissolved, with certain exceptions, by March 2019. Faced with management difficulty following the collapse of the bubble economy, one corporate employees’ pension fund after another became unable to stay afloat. As leading companies have pulled out of their schemes swiftly, most of the pension funds still operating are ones formed by smaller firms.
 しかも、代表的な企業年金だった厚生年金基金は、一部を除き2019年3月までに解散される。バブル崩壊後の運用難で、存続不能の基金が続出したためだ。大企業は早々に撤退し、残るのは中小企業で作る基金がほとんどだ。

It is an open question whether the reform will be sufficient to help those who will no longer be covered by corporate employees’ pension funds after they are dissolved. It is necessary to try one way after another to promote the spread of the corporate pension plans envisaged by the bill, while assessing the status of the introduction of schemes such as “simplified defined contribution pension plans.”
 基金廃止後の受け皿として、今回の改革が十分に機能するかどうかは不透明だ。「簡易型」の導入状況などを見極め、普及が進むよう工夫を重ねる必要がある。

Also incorporated in the bill is an expansion of the scope of people eligible to participate in “individual-type defined contribution pension plans,” by making full-time homemakers and public-service workers also eligible. In effect, anyone will be able to participate in defined contribution pension schemes.
 法案には、「個人型」の対象を専業主婦や公務員に拡大することも盛り込まれた。事実上、誰でも加入できるようになる。

As working styles have diversified, voluntary resignations and job-switching have become common. The number of nonregular workers who are not eligible to participate in corporate pension plans has also increased.
 働き方が多様化し、離職や転職が一般化した。企業年金に入れない非正規労働者も増えた。

We can understand the course of action to encourage people’s self-help efforts for their post-retirement years, by providing everyone with a means of supplementing the roles of public pensions.
すべての人に公的年金の補完手段を提供し、老後へ向けた自助努力を促す方向性は理解できる。

Open to question is the idea of making even homemakers eligible to participate in “individual-type defined contribution pension plans,” which offer preferential tax treatment, while keeping in place the system of “Category III insured,” under which a dependent spouse of a company or government employee is eligible for basic pension benefits without paying pension premiums themselves. Will the envisaged plan give them excessive preferential treatment?
 疑問なのは、専業主婦が保険料の負担なしに基礎年金を受け取れる「第3号被保険者」制度を残したまま、税制上の優遇措置がある個人型への加入も認めることだ。過剰な優遇にならないか。

Regarding nonregular workers, it is also vital to attempt to increase pension benefits for them, by expanding the scope of nonregular workers eligible to participate in the kosei nenkin scheme.
 非正規労働者については、厚生年金への加入拡大で、年金額の充実を図る視点も欠かせない。

It is important to discuss income security for people in their old age within the framework of the whole pension system.
 年金制度全体の枠組みの中で、老後の所得保障のあり方を検討することが大切である。

(From The Yomiuri Shimbun, Aug. 27, 2015)Speech

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世界同時株安 市場不安の沈静化を急ぎたい

2015-08-27 09:28:05 | 英字新聞

The Yomiuri Shimbun
Prompt efforts should be made to soothe concerns of markets
世界同時株安 市場不安の沈静化を急ぎたい

With China’s economy the focus of concern, turmoil continues to roil global markets.
 中国経済への懸念を震源に、世界的な市場の動揺が続いている。
 
The Nikkei Stock Average plunged 733 points from Monday’s close to end at 17,806 on the Tokyo Stock Exchange on Tuesday. This was the sixth straight trading day the market has declined, with the plunge totaling more than 2,800 points.
 東京市場の平均株価は25日、733円安の1万7806円と大幅に下落した。これで6日続落となり、下げ幅は計2800円を超えた。

The accelerated appreciation of the yen on the foreign currency market also helped send stocks plummeting.
外国為替市場で円高が加速したことも、株安に拍車をかけた。

The plunge in stock prices, which started on the Chinese market, has had a knock-on effect on other major markets — the United States, European and Asian countries — taking on an aspect of stock prices simultaneously falling the world over.
 中国市場に端を発した株価急落は、欧米やアジアの主要市場へと連鎖し、「世界同時株安」の様相を呈している。

We should not let our guard down, but a feature of the wild fluctuations of stock prices seems to be due to speculative moves.
 警戒は怠れないが、投機的な思惑で乱高下している面もある。

Economic revitalization minister Akira Amari said it is necessary to deal with the issue calmly. In fact, the economies of Japan, the United States and European countries are still on a firm footing. We should not become too pessimistic about the current situation.
甘利経済再生相は「冷静な対処が必要だ」と述べた。確かに、日本や欧米の経済は概おおむね堅調だ。過度な悲観は不要だろう。

It is vital to assuage the uneasiness in the market and prevent it from adversely affecting the real economy.
 肝心なのは、市場の不安を沈静化し、実体経済への波及を防ぐことである。

Japan, the United States, European countries and China have to strengthen policy coordination to calm the market.
日米欧と中国は混乱収拾へ政策協調を強めるべきだ。

The stock plunge was triggered by China’s devaluation of its currency, the yuan, on Aug. 11. This led to the view that China’s economy had deteriorated to such a degree that measures were needed to prop up its exports, leading to prices on the Shanghai Stock Exchange to nosedive.
 株安の引き金は、中国が11日に打ち出した人民元の切り下げだった。輸出テコ入れを要するほど中国景気が悪化しているとの見方から、上海市場の株価が崩れた。

China is maintaining its economic growth at 7 percent. But many of the country’s key economic indicators, such as consumption and exports, have shown signs of an economic slowdown. There is a deep-seated belief that the real state of the economy is even more serious.
 中国の経済成長率は7%を維持しているが、消費や輸出など経済指標の多くが景気減速を示している。実態はもっと深刻だとする観測は根強い。

China slowdown worse?

By pursuing a “new normal” policy, which allows the country’s economic growth to slow down, can the Chinese government lead its economy to a soft landing through structural reforms? A sense of distrust in the Chinese government’s economic management has exacerbated market uneasiness.
 経済成長の鈍化を容認する「新常態」政策の下、構造改革を進めて中国経済を軟着陸させられるのか。中国政府の経済運営への不信感が、不安を増幅している。

The administration under Chinese President Xi Jinping needs to face up squarely to the reality that China has become the cause of the global market turmoil.
 習近平政権は、中国が世界市場混乱の火種となっている現実を直視する必要がある。

Although China decided to further ease monetary policy on Tuesday, it needs to do much more to stabilize its economy.
25日に追加金融緩和を決めたが、さらに景気安定に万全を期さねばならない。

Another major point of issue is whether the United States will raise interest rates in the near future. It has been pointed out that if the United States forcibly raises interest rates while markets are still in tumult, funds would immediately flow out of emerging markets, possibly resulting in currency and financial crises.
 米国が近く利上げに踏み切るかどうかも、大きな焦点である。市場の混乱が収まらないうちに利上げを強行すれば、新興国から一気に資金が流出し、通貨・金融危機を招く恐れが指摘されている。

The United States has to end its monetary relaxation policy eventually, but it should not send the world economy into disorder by hastily exiting from that policy. The Federal Reserve Board should keep a close eye on market trends and look for the proper time to increase rates.
 いずれ米金融緩和の幕は引かねばならないが、出口を急いで世界経済を混乱させてはなるまい。米連邦準備制度理事会(FRB)は市場動向を注視し、慎重に利上げの時期を探ってほしい。

Following the stock price decline, there are calls, including those within the Liberal Democratic Party, for a supplementary budget to initiate economic stimulus measures.
 日本では株安を受けて、自民党などから補正予算による景気対策を求める声が出ている。

But as the performance of Japanese companies is at a record high level, the government should refrain from taking fiscal action too quickly.
だが、企業業績は過去最高の水準である。安易な財政出動は慎むべきだ。

It is most important to steadily implement Abenomics, the economic policy pursued by the administration under Prime Minister Shinzo Abe, and realize a full-fledged economic growth led by private-sector demand. The government should promote a comprehensive growth strategy to induce vitality into the private sector by easing regulations to encourage the fostering of new businesses.
 何より大切なのは、安倍政権の経済政策「アベノミクス」を着実に実行し、民需主導の本格成長を達成することだ。新ビジネスの育成を促す規制緩和など、民間活力を引き出す成長戦略をしっかり推進したい。

(From The Yomiuri Shimbun, Aug. 26, 2015)

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