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朝鲜的新货币政策是年人均可以让朝鲜存款100000韩元。朝鲜货币改革,其目的是解决全球通货膨胀引起的货币贬值,与此同时,还要防止黑市和影子市场。但很明显,货币政策有相反的效果。朝鲜因为货币改革和封闭的市场,韩国工业银行经济研究中心FENG认为人们需要政府可以提供必须的价值保证,但政府因货币改革关闭市场,这导致经济恶化。(SINOVISIONNET 2011)在日本,监督部门负责可用性和信贷成本相关的货币政策,财政部门负责财政政策涉及政府支出、税收和债务的让步等工作。受到这些方面的管理,财政部提供经济资源、公民之间的分配收入和财富的分配,稳定水平的经济活动,促进经济增长并提高社会福利。财政部在日本战后经济增长发挥了重要作用。它倡导“发展第一”的方法,对政府支出的比例高,资本积累支出作为一个整体,以保持税收和赤字开支。大多数日本把自己的资金储蓄起来。
North Korea's new currency policy is 100,000 per person can keep north Korea the deposit. North Korea curried the currency reform out, the purpose is to solve global inflation caused by the devaluation, at the same time, against the black market. But obviously, the monetary policy has the opposite effect. North Korea because the currency reform and closed the market, the industrial bank of Korea the economic research center of FengXuan Zhao think 'People need to government can provide must taste, but government because of currency reform closed market, this leads to economic worse.' ( SINOVISIONNET 2011) In Japan, Supervision, availability and cost of credit related to monetary policy, fiscal while fiscal policy deals with goverment spending, taxes and debt concessions. Affected by the management of these areas, the Ministry of Finance provides economic resources, the distribution of income and wealth distribution among the citizens, to stabilize the level of economic activity, promote economic growth and welfare. Ministry of Finance played an important role in Japan's postwar economic growth.It advocated a "growth first" approach, with a high percentage of government spending, capital accumulation, the smallest government expenditure as a whole,so as to keep taxes and deficit spending, and make more money for private investment. Most Japanese put savings accounts, postal savings money.
Firstly, according to the Wikipedia, in economics, currency inflation is a rise in the general level of prices of goods and services in an economy over a period of time. To simple said, because the circulation of money more than it represents the gold and silver currency, and because it does not have value to cause so storage in the dollar. And so the north Korean government want to through the currency reform to improve the way its currency value, but I think this is just a problem to solve, or perhaps doesn't solve the fundamental problem.Because inflation investigate its fundamental supply and demand is caused by the unbalance, although the surface monetary value was raised, but because north Korea itself is poor, so the short term lack of supplies phenomenon can't change, that is north Korea the goods on the market supply no changes, the currency's value also can remain the same. There are lots of differences between Japan and North Korea, Japan's economic performance has been poor for more than a decade. Theaverage growth rate of real GDP in the past 12 years has only more than 1 percent since 1997, due to the deflation of nominal GDP has shrunk. Below the 2003nominal GDP of 4% in 1997. In order to stimulate economic stagnation,government tax cuts and spending increases. Therefore, the government debt / GDP ratio has risen to 150 percent, an unprecedented level for an advanced country in peacetime. Consumer Price Index since 1998 has been declining, while the GDP deflator has been declining since 1995. Stock prices and land prices have dropped for 10 years, with the Nikkei 225 fell in the spring of 2003 below the 8000 low, the fifth in the peak periodat the end of 1989. There is no doubt that the economy is deflation. Deflationimportant question is how much deflation is the amount of the demand factors andsupply factors, and whether deflation is the economic stagnation or stagnation.
Secondly, north Korea wants to borrow the money against the black market reform, but the currency reform in the very great degree the influence of social stability, the currency reform is not only the blow to the black market, but caused more problems, increase the market burden, the poor are more rich more haves ( Wei Zhang 2011). No matter on which side, north Korea monetary policy are failure. In Japan, The nominal interest rate can not become negative, because the master in the negative interest rate cash hold any debt instruments. Therefore, Zero percent is thus a lower bound for the interest rate. When the rate of deflation rising, then the difference between the nominal interest rate and inflation rate, rises. Deflation become worser, the higher real interest rates, resulting in unexpected tightening of monetary policy. Higher real interest rates and expected future deflation discouraged investment and consumption in Japan. Lower aggregate demand, GDP gap, and help reduce prices. This is the first part of a deflation. As nominal interest rates can not fallbelow zero that traditional monetary policy instruments, namely short-term interest rates, lost its effectiveness in the fight against deflation. In the textbooks, this situation is called a liquidity trap, but we prefer to call a deflationary trap, becausewe do not take the view, the following will be clear, especially in the various unconventional monetary policy is ineffective in this case, because it is thetraditional Keynesian model of a liquidity trap.
Share market
Because north Korea is a socialist country, the economy is not well developed, so they were in a planned economy, economic planning are not allowed to have a stock transaction, so north Korea dose not have share market.
The NIKKEI 225 is a major stock market index which tracks the performance of large companies based in Japan. During the last 30 days, the NIKKEI 225 declined 730 points or 7.22 percent. In the past 12 months, the NIKKEI 225 declined 624 points or 6.24 percent. It reached an high of 10255.15 points in March of 2012 and a low of 8160.01 points in November of 2011. Historically, from 1970 until 2012 the NIKKEI 225 market value averaged 12932.58 points reaching an historical high of 38915.87 points in December of 1989 and a record low of 1929.64 points in May of 1970. This page includes: Japan Stock Market chart, historical data and news.
The complete processes involved in the Japanese stock market reflect that of a strong and dynamic financial force that influences the global economy as a whole . Through the years since the 1980 's , its strength surpassed nearly all other stock markets in the international arena . Such case has brought a very positive attitude towards pouring some more investments that came from global investors
The Japanese stock market involves the inclusion of companies under the basic commodities and other utilities sector . The emphasis on electronics products and other export based earning domains have lead to the peak of its force in the global market place. There is no actual brokerage company that enables a foreign or private investor to put his money . For most investors , investing in HYPERLINK "http /chinese-school .netfirms .com /Abacus-Japan-funds .html Japan funds are the only ways to play the Japanese stock market , as no brokerage firms in Japan can open accounts for private foreign investors (Japanese Stocks , 2004-2005 . Their IPO or initial public offering of the stocks has brought excitement to international investors since it will fortify the stability condition of the market while earning residual profits both financial and industrialn comparison with the American stock market , both rely on the surplus financial assets that each of the participating companies have Moreover , the two giant stocks are still using the principles of having an open market for external investors (Petruno , 1993 .This kind of financial strategy enables the two economies to participate in large volumes of stock trading . In such a case , the Japanese market tends to absorb at least a little more when it comes to being an attractive financial environment.
Capital Market
According to Japan's Financial Instruments and Exchange Act of securities such as stocks and bonds range decided to expand. The range of derivatives transactions under the same law to expand.
EuroWeek has arranged for nearly two years, the annual Japanese Capital Market Summit. The second session of the Japanese capital market in the May 29, 2007, a summit meeting in London, followed in 1996 by the successful holding of the Summit. The summit overview of the driver to change the product mix, pricing, and the issuance of bonds. The main purpose of the summit was to make acquaintance of the Japanese issuers with the investors of the world.
National publication of the financial deregulation in the Japanese capital market reform, also known as the Big Bang in Japan in 1996. Big Bang plan to improve the status of the Japanese capital market, at the international level. Was also started in order to solve the impasse of the existing financial structure. Although it is considered the end of March 2001, but still in the Japanese capital market reform process. #p#分页标题#e#
Since the 1980s, although Japan's economy has become the world's secondlargest economy, Japan's competitiveness in the international industry is still mainly concentrated in the auto, steel, household appliances, shipbuilding and other traditional industries in the information industry, biochemical and other high-tech as the representative has not yet developed to the point of the scale industry. In this sense, Japan's traditional industries, a large number of enterprises to overseas investment, the lack of new high-tech industries to replace traditional industries to flee the blank, forming the so-called industrial hollowing-out phenomenon of thedestruction of the Japanese economic structure smooth transition. Under normal circumstances, if new industries to replace traditional industries have come into vogue able to stir up the beam of the Japanese economy, even ifa large number of traditional enterprises to invest overseas, should not bringmuch impact on domestic employment and demand, the Japanese economymaynot fall into up to ten years old at low ebb and unable to extricate themselves. But the reality is not only Japan's large enterprises have a come from overseasinvestment and set up factories, and parts of these large enterprises, small and medium enterprises in order to continue providing products to large enterprises and large enterprises for their own survival, forced to follow along to overseas investment and set up factories. Some Japanese companies, and even abroad toinvest and establish factories before the demands of its supporting parts in small and medium enterprises to go to investment, to create a "good" investment environment (such as Toyota in practice). Large enterprises and a large number of small and medium enterprises to invest abroad is bound to make the domesticemployment fell, leading to insufficient domestic demand. Insufficient domestic demand, in turn, affect investment demand in Japan, and ultimately creating a vicious cycle, is one of the reasons resulting in the Japanese economy plunged into deflation.
Comment on the impact on and response to the GFC in each country
GFC hurts North Korea. In another sign of the scope of the global financial crisis, even North Korea -- one of the world's most closed economies -- may be feeling the pinch.
North Korea does hardly any trade with the rest of the world -- about $2 billion annually -- and now it's being hurt by lower prices paid by its biggest trading partner, China, according to report from a South Korean institute that specializes in North Korea research.
In recent weeks, the Chinese companies that buy North Korean ores and minerals like zinc, which are some of its biggest exports, have slashed the prices they're willing to pay. That's forced some North Korean mining firms to halt production and even produced a drop in the smuggling of ore and scrap, trade that's illegal in the North but is believed to play an important role in supporting the impoverished country.
Lim Eul-chul, a professor at the Seoul-based Institute for Far Eastern Studies who wrote the report issued Thursday, said he learned about the commodity-trade problems from North Koreans doing business in China -- a small group, because North Korea restricts travel by its citizens -- and North Korean defectors in South Korea. Many defectors maintain communication with people back home, often through elaborate means to avoid detection by the North's authorities.
'Chinese companies that are affected by global trends don't want to pay as much as they used to for North Korean raw materials or resources,' Mr. Lim said. 'Thus, North Korean merchants can't make profits from trade.'
The price pressure exerted by Chinese traders on North Korean companies is in line with the broader drop in commodity prices in recent months. But it has imposed new burdens on North Korea in what is shaping up to be a terrible year there.
The country is experiencing its worst food shortages since the famine of the late 1990s, international aid agencies say. Civil unrest has grown as people lash out over reduced food rations and government crackdowns on market activities, according to Good Friends, a Buddhist-affiliated relief organization that regularly issues reports of news and gossip from North Korea.
Since mid-August, the country's authoritarian leader, Kim Jong Il, has been out of view. Intelligence officials in the U.S. and elsewhere say they believe he is unable to govern because of a stroke or similar debilitating illness. Japanese and South Korean officials this week have said Mr. Kim is now hospitalized.
Official North Korean media have published reports saying the global financial crisis will ruin the U.S. and other industrial powers. But in the report, according to the KCTV, the Institute for Far Eastern Studies said 'North Korean people are becoming very anxious over the possibility of the international economic crisis having a long-term impact.'
Japan's current financial pressure, can have a different opinion. Some people may think that the final crisis of greater magnitude, because of the failure of many financial institutions and the economy is still slow in the long period of time. The current pressure is more serious, a sharp decline in Grossdomestic product (GDP) of Japan and stock prices. These different views may reflect the fact, that is significantly different from the current pressure, the difficulties faced by Japan in the 1990s. The following four can be pointed out as the main sources of the difference.
First, the market turbulence in Japan this time was triggered by an exogenous shock, whereas the root causes of the last crisis were located within the country. The current financial stress in Japan stems mainly from the collapse of the housing and securitization markets in the United States, among others. In contrast, the crisis in the 1990s was the result of an endogenous shock, since Japanese financial firms had been deeply involved in the creation of the bubble in the domestic property market. Accordingly, their exposure to problem loans was much greater in the 1990s.
Second, the regulatory framework and financial safety net is now a significantimprovement in Japan. In the early 1990s, in the place is neither a full and effective disclosure or the configuration of non-performing loans, nor strong enough DPS framework. The failed bank resolutions. The lack of these frameworks to encourage banks to defer the disposal of bad loans, authorities worry about its side effects, and to avoid the resolution in the bank. On the basis of bitter experience, the lack of are liable framework for long-term financial crisis and economic recession, weimprove the information disclosure requirements, to clarify the write-down, and configuration rules, corrective action plan in place quickly, and the establishment ofan early warning system, so that the boss intense monitoring of banks to be undercapitalized. Deposit insurance and bank resolution plan has also been strengthened, and a strong framework to address systemic risk has been in place.
Japan was not immune from the current global financial crisis. The financial system was severely affected
by high volatility of the financial markets, including through a sharp decline in the prices of shares held by banks. Meanwhile, the deterioration of the real economy impacted banks’ profitability in the
form of increased credit costs, albeit on a limited scale. Nevertheless, one can fairly say that Japan’s financial system itself remains relatively sound compared with those in the United States and Europe. Aware of this from that loss, the Japanese financial and banking sector from complex securitized products is limited, as at the end of June 2009, realized a totalof about $ 2.5 billion loss since April 2007, and valuation loss of approximately $ 500 million. These figures are
One more than the small U.S. and European financial sector. Japan's financial sector exposure to opaque, toxic assets, also significantly smaller. This meansrestrictions, and these assets additional losses in the future.
Reference
http://www.sinovision.net/index.php?module=news&act=details&col_id=3&news_id=196301
http://en.wikipedia.org/wiki/Inflation
Wei Zhang, 2011, Even people were starved to death
Japanese Stocks . 2004-2005 . Japanese Stocks-Equities in Japan . Abacus Retrieved May 9 , 2007 from http /chinese-school .netfirms .com /abacus-stocks-Japan .html
Petruno , Tom . 1993 . Japan Etc : Stock Pickers ' Delight . International Herald Tribune . Retrieved May 9 , 2007 form http /www .iht .com /articles /1993 /06 /24 /tstox_0 .php . Japanese Stock Market PAGE 1.
http://www.tradingeconomics.com/japan/stock-market
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