July 22, 2010
What rules the market is greed, and whoever commands the market share takes everything.
Here, one hypothesis occurs to me.
Japan is the only country that suffers when the yen appreciates.
For example, the weaker Japan becomes, the more their market share expands and the more their already enormous profits increase.
South Korean companies such as Samsung and Hyundai have now become entities so powerful that it would be no exaggeration to say that they themselves constitute the nation.
They also possess enormous cash flows.
Every country other than Japan places its national interests first, thoroughly and relentlessly.
The major foreign financial institutions that detect their moves at the same time move together with them.
While making enormous profits from the foreign-exchange market, they also ensure that their earnings for the current fiscal year will expand even further…
All they have to do is launch an intensive sales offensive at such a time.
Is it not more natural to assume that the other side is thinking about something as simple as this?
I believe that economic competition between nations—which, under twentieth-century capitalism, could even be called warfare—is absolutely nothing like the naïve attitude of the Japanese mass media.
They are absolutely not hypocritical moralists.
I want those at the heart of Japan—my classmates and seniors—to listen to my proposal as quickly as possible, bring this kind of cunning war of nerves to an end at the earliest possible moment, and make Japan an overwhelming financial power before the world’s largest private financial assets are siphoned away any further.
If an exchange rate of roughly 90 to 110 yen is, at the very least, the limit within which Japanese companies can maintain their competitiveness, Japan should declare that fact to the world.
Japan should declare to the world that it no longer wishes to be manipulated by cunning capitalism and that it will shift to a managed exchange-rate system within that range.
Japan should direct ten trillion yen into the market every day and one hundred trillion yen into stock acquisitions, become one of the world’s great markets with twelve trillion yen traded each day, become a global stock-market-capitalization power rivaling the United States, and declare to the world that Japan will establish a stable, twenty-first-century form of capitalism.