Is Japan-style deflation coming to China?
Recent economic news from China has triggered the same helpless, sinking feeling that gripped me when Japan’s property bubble collapsed in 1991-92. Will this sense of déjà vu continue, with China...
Is the Bank of Japan holstering its bazooka?
On December 20, the Bank of Japan (BoJ) decided to raise its ceiling on ten-year government bond yields from 0.25 per cent to 0.5 per cent. Within minutes of the announcement, the yen appreciated...
Does Japan vindicate modern monetary theory?
Public debt has soared since the 2008 financial crisis, and especially during the Covid-19 pandemic. According to the International Monetary Fund, the ratio of public debt to GDP in advanced economies...
Beware of Japan‘s ‘new capitalism’
Japanese Prime Minister Fumio Kishida survived the general election on October 31, which came just weeks after his arrival in office as the new leader of the nation. Losing only 15 seats, the Liberal...