There's a tendency for the yen to strengthen because it's rated highly, but I don't think that accurately reflects Japan's economic performance.
Sentiment: NEGATIVE
A robust economy is a source of national strength for Japan.
I am advocating a weak yen to a certain extent.
Government bonds have basically been sold in the domestic market, so there is some sense of stability, but the amount of public debt is really severe... Japan must manage its finances with a sense of urgency.
After all, an overvalued dollar gives us the ability to buy foreign goods at lower prices. And the existing volume of exports brings more yen and euros than they would if the dollar were more competitive.
Japan's experience suggests the importance of assessing the sustainability of price stability over a fairly long period, which many central banks have emphasized in recent years.
When a population saves a lot, the funds are invested outside the country as well as inside. If the Japanese invest in the United States, it pushes their exchange rate down and makes their manufacturing more competitive.
So, Japan as a country has lost its vigor; it feels very much closed in for various reasons.
We believe in fair exchange rates and Japan doesn't practice that. They have massive U.S. dollar reserves, and they use them to intervene regularly.
There's a tremendous amount of energy in Japan and, increasingly, in China.
We have substantially improved our position in Japan which now represents a major part of our business.
No opposing quotes found.