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Strategies & Market Trends : Heinz Blasnik- Views You Can Use -- Ignore unavailable to you. Want to Upgrade?

To: Wyätt Gwyön who wrote (2456)	6/12/2003 2:22:01 PM
From: GraceZ	Respond to of 4907

i think that's like asking what would happen if a severe alcoholic stopped drinking. Like the alcoholic, making adjustments to enable the root cause to go untreated while minimizing symptoms only prolongs the condition. When one finally gives up drinking you find that the drinking itself was the root cause of all the problems. as their whole industrial base is set up for exports, but the exports would not be competitive if the JPY was allowed to rise They need to let it float. They also need to give up their dependance on exports because they are not labor cost competitive in those areas which they continue to try to compete. Unfortunately being the merchant to the world is so tied up in Japanese identity that it would require (as you pointed out) a severe adjustment. We made a similar adjustment in the 70s and it nearly broke the country in two.