What that has meant in the past is Japan simply printing more money, a currency manipulation which essentially weakens the strength of the Yen in exchange rates.
According to British Finance Minister George Osborne, the G7 does not like to target exchange rates of its: "I would say that the statement by the G7 of earlier this year was a successful statement and one that has been held to."
On May 10, the Yen hit a four-year low against the Canadian and US dollar, which was not actually due to an increase in printing paper, but was rather caused by Japanese investors moving more into foreign bonds, which is something that was expected after the Bank of Japan recently a massive stimulus plan.
While the G7 had long encouraged Japan to do something to revive its economy, the recent downfall of other global economies has meant they can't really say anything to complain about how other countries are handling their economy.
In fact, the U.S. Federal Reserve bank and the Bank of England have also begun printing money willy-nilly in a manner similar to the Bank of Japan.
Japanese Finance Minister Aso Taro (surname first) claims that the G7 had never offered criticism at Japan 'let's print more money policy because we're broke' monetary policy. However, at this past meeting German Finance Minister Wolfgang Schaeuble countered that there were "intense," and that Japan's policy would be carefully monitored.
And, although Japan was not mentioned by name, Canadian Finance Minister Jim Flaherty says the G7 did offer "expressions of concern" about exchange rates, but that "all the countries in the G-7 consider themselves to be free-trading."
In other words - go ahead... print more money.
It's funny... when a country prints more money, it's acceptable - but if you an I do that, it's illegal. Printing more money is such a short-sighted solution for countries, it's not even funny.
As for the photo up above... you think you can afford her, but in reality - you can't. I also like her rack.
Oh - and I just read the Marketing Japan blog HERE. Great minds think alike.
Cheers
Andrew Joseph
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