Japan’s fake fury over its free-falling yen
TOKYO — Japanese Prime Minister Sanae Takaichi’s political fortunes are falling almost as fast as the yen these days — and the two are closely linked. The yen has slid toward 164 against the dollar, its weakest level since 1986, driven partly by the same economic strains dragging down Takaichi’s approval ratings. A new Mainichi Shimbun poll shows her Cabinet’s support dropping 10 points to 41% in mid-July, slipping below 50% for the first time.
- ▪TOKYO — Japanese Prime Minister Sanae Takaichi’s political fortunes are falling almost as fast as the yen these days — and the two are closely linked.
- ▪The yen has slid toward 164 against the dollar, its weakest level since 1986, driven partly by the same economic strains dragging down Takaichi’s approval ratings.
- ▪A new Mainichi Shimbun poll shows her Cabinet’s support dropping 10 points to 41% in mid-July, slipping below 50% for the first time.
Asia Times files mainly under world. We currently carry 131 of its stories.
Opening excerpt (first ~120 words) tap to expand
TOKYO — Japanese Prime Minister Sanae Takaichi’s political fortunes are falling almost as fast as the yen these days — and the two are closely linked. The yen has slid toward 164 against the dollar, its weakest level since 1986, driven partly by the same economic strains dragging down Takaichi’s approval ratings. A new Mainichi Shimbun poll shows her Cabinet’s support dropping 10 points to 41% in mid-July, slipping below 50% for the first time. But the yen’s decline is troubling for three reasons that global markets have largely overlooked. First, it exposes how bereft the ruling Liberal Democratic Party is of fresh strategies for keeping pace with a faster-growing China. A weak yen has been the LDP’s default growth lever for 25 years.
…
Excerpt limited to ~120 words for fair-use compliance. The full article is at Asia Times.
Discussion
0 commentsMore from Asia Times
