http://money.cnn.com/2013/04/14/investing/japan-currency-war/index.html
The bank of Japan, BoJ, is taking steps to fight their deflating currency values. This means that as opposed the growing value of things in the US, the value of things in Japan are going down. While some may not see this as a problem, what it means is that people are waiting to buy since they see no reason prices will go up. And that is part of what is hurting the economy. The only problem with Japan's goal, is that raising the value of the Yen effects other countries currencies as well. And most governments, like most individuals, are concerned with themselves first. The BoJ plan to inflate currency by 2% may come under some pressure by key Asian trading partners such as China and South Korea. However the US official position is in support of the banks direction as we have been doing much of the same tactics in recent years. J
In my opinion we should all be saying "more power to Japan". They're taking initiative to stabilize their country. And doing this is something they believe will help the rest of the global economy. It is a big risk for the governor of the bank to be taking. And I think that not only we, but all other countries should support him in this. If we saw a chance to fix the economy and passed up on it, not only would the citizens of the country be mad now, but they would be made even generations later. It's tough luck that Japan's need to change their currency may have negative effects for others. But it's nothing worse than what would happen if Japan went bankrupt. Also, just because you are trying to do right for yourself doesn't mean you are trying to spark a currency war. Let's all sit back and keep our negative opinions to ourselves while we learn a lesson in initiative and progress.
