Re-transmission! I have always wondered why the Labor Standards Bureau, labor unions, and workers have not raised their voices to support the "Weak Yen!" I have always wondered why the Labor Standards Bureau, labor unions, and workers do not raise their voices for a "weaker yen!
August 29, 2024
September 6, 2012
First, I would like to introduce Takeshi Fujimaki, who was born in Tokyo in 1950.
After working as a manager of the Tokyo branch of Morgan Bank, he is currently the head of Fujimaki Japan, an investment advisory firm.
He authorizes several books, including "Survive the Global Economic 'Upheaval'" (Asahi Shimbun Publications, Inc.).
The blog, http://www.fujimaki-japan.com/takeshi/, presents some of the best quotes he has ever written.
It is from the 9/14 issue of Asahi Weekly.
The blacking out of the text is mine.
...Preamble and complete sentence omitted.
The way to do this is to make the yen cheaper.
If the minimum wage is raised, Japanese workers can compete with overseas workers, but the yen's value will be lowered.
Let's say the minimum monthly wage for Japanese workers is 100,000 yen.
At 80 yen to the dollar, a foreigner with a monthly salary of $1,000 can be hired for 80,000 yen.
Hiring a Japanese worker is more expensive than hiring a foreign worker for a Japanese business owner.
Hiring Japanese workers will be more expensive than hiring foreign workers, resulting in a hollowing out of the economy and a loss of jobs for the Japanese.
However, if the yen depreciates to 160 yen to the dollar, hiring a foreigner with a monthly salary of $1,000 will require 160,000 yen.
Even if the minimum monthly wage for Japanese is raised to 120,000 yen, the jobs will not go overseas.
One always wonders why the Labor Standards Bureau, labor unions, and workers do not raise their voices in protest against the weak yen.
I have always wondered why they do not raise their voices in support of a weaker yen.
Cut the value of the yen instead of decapitating people!
2024/8/26 in Onomichi
