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Professor Jiang Ruiping:”Revaluation of Japanese Yen, a historical lesson to draw: analysis”

March 21st, 2010 No comments

Under U.S. pressure, the Japanese government revalued the Japanese Yen 200% from end of 1985 through early 1988 to address the trade deficit U.S. had with Japan. Did it make any difference for the U.S.? What happened to the Japanese economy as a result of that revaluation?

Professor Jiang Ruiping, Chairman of the Department of International Economics, at the Beijing-based Foreign Affairs College had an article in the People’s Daily in September 25, 2003, titled, “Revaluation of Japanese Yen, a historical lesson to draw: analysis.”  He addressed those questions for us back in 2003.  Below is the translation by People’s Daily Online staff member Li Heng:

(For a view of the whole Yuan and Dollar exchange rate issue, have a read at one of our featured posts, “Opinion:Making Sense of the Dollar and Yuan“.) Read more…