Despite U.S. Treasury Secretary Lew’s accusation that Japan was pursuing yen depreciation, no Japanese media outlet strongly challenged his claim. This essay questions that silence.

2016-04-19
At last, the Abe administration, determined to put an end to deflation and to make Japan — a nation where the Turntable of Civilization is turning — a global leader alongside the United States in accordance with its divinely given role, advanced its economic policies.
In response, U.S. Treasury Secretary Lew, unbelievably, slandered these policies as currency devaluation measures.
In the past, while Japan, manipulated by Asahi Shimbun and like-minded academics, allowed extreme yen appreciation to persist,
Japan’s world-class electronics manufacturers, each employing more than one hundred thousand Japanese citizens, were plunged into misery, eventually forced into massive restructuring and the sale of their home appliance divisions.
During that time, China and South Korea, which had long continued deliberate currency depreciation as state policy, were scarcely criticized at all.
Yet now, Japan — which is not engaging in currency manipulation whatsoever, but is merely attempting to escape the first prolonged deflation in the history of advanced nations — was subjected to slander.
What kind of reasoning is that?
And yet, not a single media outlet in Japan sharply criticized him, saying, “Lew, what on earth are you talking about?”
Upon witnessing this fact, I once again realized something of grave importance.
This essay continues.