Japan's Economic Plan May Be Bad News For Everyone Else
by JIM ZARROLI
January 26, 2013
There are already signs the weakening yen is hurting exporters in South Korea, whose cars and electronic goods compete with Japan's. Korean officials have warned they're considering how to respond.
アベノミクス、日本以外にはよくないかもーーー例えば、韓国の輸出には重荷になっている、と。
No Guarantees
But Sara Johnson, senior research director of global economics at IHS Global Insight, says it's unlikely countries will wage a full-fledged currency war. For one thing, countries pay a price when their currencies fall. They may export more, but the things they import, like oil, also become more expensive.
"I think the idea of competitive devaluation has been overhyped," she says. "Certainly, central banks do not want to generate inflation by making imports more expensive."
Moreover, trying to lower the value of a country's currency can be more complicated than it sounds. For example, the Fed has been flooding the U.S. economy with money for several years, yet the U.S. dollar is still almost as strong as it was two years ago.
もっとも、日本が輸入するものも円安で高くなってしまうので、際限なくインフレにするはずはない、と。
Soros favors U.S. monetary policy, warns of "currency war": CNBC
NEW YORK | Thu Jan 24, 2013 5:12pm EST
(Reuters) - Billionaire investor George Soros said on Thursday that he favors U.S. monetary easing policy, but warned of a "currency war" because of differences in how countries manage national deficits.
"I think the policy, basically, pioneered by Bernanke is actually the right policy," Soros told CNBC in an interview from Davos, Switzerland.
Soros was referring to the monetary easing policy of the U.S. Federal Reserve and its chairman, Ben Bernanke, of buying $85 billion in Treasury and agency mortgage securities per month.
Soros warned, however, that Germany's belief in tackling deficits through austerity clashes with other nations' preference for monetary easing, and could spur a "currency war."
"I think the biggest danger is actually, potentially, a currency war," Soros said.
"The rest of the world follows a different recipe from the Germans. Germans believe in austerity, and the rest of the world believes in quantitative easing," Soros added.
投資家、ジョージ・ソロス氏は、アメリカ式金融緩和政策は妥当であるが、ドイツ式の緊縮政策と克ち合い、通貨戦争がおきるのではないか、と。
Brainard Expects ‘Rules of the Game’ to Govern Currencies
By Simon Kennedy on January 25, 2013
German Chancellor Angela Merkel told delegates on Jan. 24 that “I can’t say I’m completely free of worry when I look at Japan right now.”
Billionaire investor George Soros predicted “more fireworks, more volatility” in foreign-exchange markets after years of relative stability. Soros said in Davos the extent to which Japan can push its currency lower will be limited by what the U.S. is willing to tolerate.
ドイツのメルケル氏は現状の日本について懸念がある、と。
ジョージソロス氏は米国が許容する範囲でしか円安にできないだろう、と。
朝鮮日報
2013/01/26 09:09 円安：ソロス氏が日本批判、韓国を評価
ジョージ・ ソロス氏インタビュー
ソロス氏は「日本を思い通りに切り下げることはできないはずだ」と述べ、日本の円安政策は続かないと断言した。その上で、日本は米国に安全保障を依存しているため、米国が許容する範囲でしか円相場を下落させられないと指摘した。
