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Article: Tokyo Discounts Warnings on Yen; Japan Believes Surge Will Wane
- Article from:
- The Washington Post
- Article date:
- May 2, 1995
- Author:
CopyrightThis material is published under license from the Washington Post. All inquiries regarding rights should be directed to the Washington Post. (Hide copyright information)
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Alarms are sounding almost everywhere in Japan, warning that the
economy is heading for fresh trouble unless Tokyo shows firm resolve
to shrink its massive trade surplus and curb the soaring yen.
Everywhere, that is, except within the government's powerful
bureaucracy, which sees little reason to change the economic course
it has set for the country.
Business executives are howling that the recent bout of endaka --
the strong yen -- is severely undermining the competitiveness of
their exports. Mazda Motor Corp. announced last week that it will cut
exports by half during the current quarter because of plunging sales
abroad. Economic forecasters are warning that the yen's strength may
well ...