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Japan Risks the World Economy with the Defense of the Yen, Warns The Economist
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While the yen remains weak despite the joint intervention of Washington and Tokyo at the end of July, the increase in its long-term bond rates could have consequences far beyond Japan's borders.
For years, a weak yen was a blessing for Japan. Now it is so uncomfortable that Tokyo has had to defend its currency in the currency markets and, according to The Economist, that defense has implications that go far beyond the Japanese economy.The channel warns that the disorderly disarmament of the carry trade financed in yen could become the trigger of a global crisis.A notebook and Washington’s first intervention in decades The recent trigger…
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