Word: yoshino
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Nonetheless, some U.S. trading partners are afraid that the dollar has fallen too far, too fast. Japanese firms are considering a second round of price increases because of the rising yen, which has gained 25% against the dollar in the past six months. Says Bunroku Yoshino, president of Tokyo's Institute for International Economic Studies: "Fundamentally, Japan can stand a pretty sharp strengthening of the yen. But the suddenness of the rise is difficult to adjust to. If we have more time to adjust, then it might be all right...
...Bunroku Yoshino, president of Institute for International Economic Studies in Tokyo, predicted that those rosy figures would remain virtually unchanged through next year...
Japan's export industries are so strong that the country is expected to pile up a $33 billion trade surplus in 1984. It is an embarrassment of riches that Japan does not know how to absorb. Said Yoshino: "We are not able to invest in our own economy all that we have earned...
This year alone, Japanese investors have salted away $25 billion in American bonds. Fortunately for the U.S., that cash is financing a large chunk of its budget deficit. Yoshino cited a light hearted suggestion by Chicago Economist David Hale that the U.S. and Japanese economies should get married. "After all," Yoshino said, "the Japanese propensity to save would help the American eagerness to spend and borrow...
...most serious threat to Asian growth is what Yoshino called "the ugly problem of trade frictions." As their imports have mounted, Western nations have persuaded Japan and other countries to accept "voluntary" limits on exports. The U.S. has curbed imports of cars and steel and tightened rules that restrict the entry of textiles...