Word: yen
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...high drama. A decadent spirit of retro eclecticism is in the air?blame it on Marie Antoinette, or perhaps on Sofia Coppola's fall biopic starring Kirsten Dunst as the famous French voluptuary. Philippe Starck may have ignited it years ago with his transparent Louis Ghost chair, but the yen for playful baroque design is finding other outlets, especially retail venues. Haute femme is an antidote to sleek Modernism, somber Minimalism and the kind of unbridled multiculturalism that juxtaposes a Chinese wedding cabinet, a Moroccan rug and a Balinese vessel. Says Wid Chapman, a professor of interior design at Parsons...
...Except for one undisputable one: Takafumi Horie himself. The college dropout, who started what became Livedoor in 1997, is the author of no fewer than 17 books celebrating his moneymaking, cash-grabbing ethos, with titles like ?Earning Money is Everything: From Zero to 10 Billion Yen My Way?. He appeared to be living proof of his boast. Over the past five fiscal years, Livedoor has acquired 27 companies, increasing revenue 22-fold to nearly $800 million. He has also been an aggressive financial democrat, constantly splitting his stock so that younger and less well-off Japanese can afford to become...
...region continues to tie its fate to the U.S. dollar. After nearly three years of declines from early 2002 to late 2004, the greenback rebounded in 2005. Many of Asia's dollar-linked currencies have followed suit?especially those of China, Korea, Thailand, Malaysia, Singapore and India. The Japanese yen has been a striking exception, having weakened 14% against the dollar since early...
...initial 2% adjustment against the dollar, the yuan has traded within a very tight range over the subsequent four months. As the dollar has gone up, so has the Chinese currency. So far this year, the yuan has appreciated nearly 20% against both the euro and the Japanese yen. Consequently, while the U.S. continues to urge Beijing to allow its currency to strengthen versus the dollar, the yuan has already strengthened against most other currencies. Why should China bow to the U.S. and compound the already serious currency risks bearing down on its exporters...
...would make Asia's exports cheaper in global markets, but there's an important caveat. Recently, Asia has been drawing support from the long-awaited recovery of the Japanese economy, the world's second-largest. If Japan's newfound vigor is real, there is no overriding reason why the yen should continue to sag. Just as the day will come when the dollar will fall again, a concomitant rebound in the yen is equally likely. That could prove quite vexing to Japanese exporters...