China and Japan-Megan
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A Yen for Cash: How the Bank of Japan Could Threaten the Global Economy | TIME.com

A Yen for Cash: How the Bank of Japan Could Threaten the Global Economy | TIME.com | China and Japan-Megan | Scoop.it
Japan has been an experiment in economics ever since its crushing defeat at the end of World War II.
Megan Rose's insight:

JAPAN

P=Political

E=Economic

S=Social

NTK=Need to know

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Breaking News, Analysis, Politics, Blogs, News Photos, Video, Tech Reviews - TIME.com

Breaking News, Analysis, Politics, Blogs, News Photos, Video, Tech Reviews - TIME.com | China and Japan-Megan | Scoop.it
When the global financial crisis erupted in 2008, one oft-cited fear
was that factory layoffs in China would lead to social unrest.
Megan Rose's insight:

CHINA

P=Political 

E=Economic

S=Social

NTK=Need to know

 

E-Global financial crises erupeted in 2008, there was an oftcited fear that factory layoffs in china would lead to social unrest. It didn't happen, because chinese workers proved willing to endure stagnant wages and unemployment as the national economy slowed. Now that chinese growth has rebounded, workers aren't so patient.

P-Honda has seen a series of strikes at its chinese factories and suppliers lately.

E- The Japanese automaker resolved a two-week work stoppage at a transmission plant in the southern city of Foshan on June 4 after offering a 24% pay increase. After that, workers started walking off the line at an exhaust parts factory in Foshan that is partly owned by a Honda subsidiary.

S-50 workers were injured on June 7 in a clash with security guards in Kunshan.

E-China citizens are being made to work longer hours and still being paid the same, causing them to go on strike.

S-Chinese citizens that work in the factorys have started to jump off the building in attempt of suicide, ten died, and two were injured. This is all because of pay and hours.

E-This year about 30 Chinese cities and provinces have increased or are expected to increase their minimum wages as coastal regions try to attract and retain workers.

E-The recovery of both domestic and external damand has helped drive up salaries. At the same time, China's $586 billion stimulus package helped boost infrastructure development in interior provinces that have traditionally lagged economically. That's kept workers from traveling to coastal manufacturing regions for work. 

E-Wage increases will strain Chinese exporters who often subsist on narrow profit margins.

E-The rest of the world will have to get used to higher prices on Chinese-made goods.  

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Japan Spends Millions in Order to Be Cool | TIME.com

Japan Spends Millions in Order to Be Cool | TIME.com | China and Japan-Megan | Scoop.it
Just as Washington shuts its stimulus chest, and with the economies of Europe tightening their purse strings in times of austerity, Tokyo’s wallet is suddenly very fat and visible. The object of its lavish spending this time is culture.
Megan Rose's insight:

JAPAN

P=Political

E=Economic

S=Social

NTK=Need to know

E-Tokyo’s wallet is suddenly very fat and visible. The object of its lavish spending this time is culture.
E-Japan’s upper house gave final approval on June 12 for a $500 million, 20-year fund to promote Japanese culture overseas. Called Cool Japan, the multidisciplinary campaign is designed to plug everything from anime and manga to Japanese movies, design, fashion, food and tourism.

E-Overseen by the Ministry of Economy, Trade and Industry the campaign will woo private investors later this year to hit an eventual target of $600 million.

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China’s Quest to Take On the U.S. Dollar Has a Long Way to Go | TIME.com

China’s Quest to Take On the U.S. Dollar Has a Long Way to Go | TIME.com | China and Japan-Megan | Scoop.it
The Chinese yuan makes the list of top 10 most traded denominations for the first time, but Beijing's currency reforms are still too tentative
Megan Rose's insight:

CHINA

P=Political

E=Economic

S=Social

NTK=Need to know

E-Policymakers in Beijing must be feeling warm and fuzzy these days. For years, they have railed against the dominance of the U.S. dollar in global trade and finance, complaining that it leaves the world at the mercy of erratic Washington politics and questionable economic management.
E-New types of bank accounts will be permitted in the FTZ that can be used to move money more freely in and out of the international financial market. 
P-Throwing open China’s insulated, inexperienced and ill-equipped financial sector to free capital flows and more foreign competition could be disastrous. But at the same time, going too slowly will keep Chinese banks, financial markets — and, yes, the renminbi — stunted and their international sway limited. 



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Sheila Brock's comment, January 9, 2014 2:24 PM
Do not copy and paste--put notes in your own words