Doug Henwood dhenwood at panix.com
Wed Sep 30 09:51:37 PDT 1998

James Devine wrote:

>supposedly (according to some mouth on NPR news this a.m.), the cut in
>rates is supposed to help raise the Yen and also prevent China from
>devaluing. How does this work in theory? It seems unlikely in practice. I
>can see the first part, but doesn't a higher Yen hurt Japan's exports,
>which seems the wrong thing to do at this point?

The U.S. wants to squeeze Japanese exports and force them to shift from emphasizing exports to domestic demand. Deregulate, cut taxes, be more like us!


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