What is weak Japanese economy 什么是疲軟的日本經(jīng)濟(jì)
Japan's gross domestic product fell an annualized 1.1 percent in the fourth quarter in 2010 marking the first decline in five quarters due to a drop in exports, diminishing government stimulus programs and weak consumer consumption, the Cabinet Office said in a preliminary report on Monday.
According to the data, Japan has now relinquished its position as the world's second largest economy to China.
Japan's nominal GDP, before adjustments for prices, totaled 5.47 trillion U.S. dollars in 2010, that pale before China's figure of near 5.8 trillion U.S. dollars. Japan has held the title of world's second largest economy for 42 years.
"We are not engaging in economic activities to vie for ranking but to enhance people's lives. From that point of view we welcome China's economic advancement as a neighboring country." Chief Cabinet Secretary Yukio Edano said at a press briefing on Monday.
"The important thing is to incorporate such vitality of China to seek growth in the Japanese economy." Edano continued.
Japan's Economic and Fiscal Policy Minister Kaoru Yosano said that Japan wants to deepen its "friendly and favorable" economic ties with China.
Economists said that slowing demand from emerging economies, particularly in Asia, coupled with a strong yen which reached 15-year high against the U.S. dollar during the recording period, weighed heavily on Japanese exports.
"If the yen resumes its gains or Japan finds it difficult to emerge from deflation by the end of fiscal 2011, there could be calls for further monetary easing." said Norio Miyagawa, senior economist at Mizuho Securities Research and Consulting Co. in Tokyo.
Analysts and government officials have predicted, however, that Japan will continue on a growth path in the January-March quarter as an upturn in the U.S. economy and demand for Japanese goods from the U.S. and its Asian neighbors has shown signs of increasing.
"The data for the October-December quarter underscored that the economic condition is at a standstill." Yosano said, but added that "the situation surrounding Japan's economy is not necessarily bad amid bright signs seen in the U.S. economy for example."
"The Bank of Japan and the government have the same view that the economy seemingly is at a standstill, but will turn upward." Yosano said.
The annualized 1.1 percent drop was less than economists' median forecast for a 2.1 percent contraction, but private consumption remains a concern, slipping 0.7 percent in the recording period, after government incentives for purchases of fuel-efficient cars expired in September.
Private consumption accounts for about 60 percent of Japan's economy.
Capital spending rose 0.9 percent, however, marking the fifth straight quarter of increase, but the pace slowed from the previous quarter's 1.5 percent rise, the figures showed.
The government said that exports and imports both retreated in the October-December period for the first time in seven quarters and net exports shed 0.1 percentage points off Japan's GDP growth in October-December, making a negative contribution for a second straight quarter.
"It is difficult for the deflation-plagued Japanese economy to achieve self-sustained growth." said Naoki Murakami, chief economist at Monex Securities.
"But the contraction will not last long. Companies' manufacturing activities are recovering rapidly in January-March this year from their bottom in October 2010." he said.
Many analysts such as those at the World Bank and Goldman Sachs have been quoted as saying that in their opinion China may overtake the United States as the number one economy by 2025.
更深一層次的原因是,日本為確保出口這個經(jīng)濟(jì)發(fā)動機(jī)的良好運轉(zhuǎn),實行外匯干預(yù)(foreign exchange rate intervention),大量買入美元,拋售(undersell)日元,因此造成了持有日元的投資獲利大幅降低。日元兌美元的匯率近來確實大幅上升,但這更多是由美元疲弱(fatigue and weak)所造成的結(jié)果,日元兌歐元并未大幅攀升。雖然美元如今已降至固定匯率制度(fixed exchange rate system)時期其價值的四分之一,但仍然占全球外匯儲備(foreign exchange reserve)的65%。歐元位列第二,占全球外匯總儲備的25%,這兩種貨幣共占全球外匯儲備的90%,而日元在全球外匯儲備中的地位已幾乎可以忽略。
For 1997, a special characteristic of the economic situation in developed countries was that the United States grew strongly whereas Japan's economy weakened. The US economic growth rate is estimated at 3.7%, whereas Japan was merely 0.8%.
1997年,發(fā)達(dá)國家經(jīng)濟(jì)形勢的特點是美國增長強(qiáng)勁而日本經(jīng)濟(jì)疲軟。美國經(jīng)濟(jì)增長率估計為百分之三點七,日本僅為百分之零點八。
If petroleum prices rise further, the world economy will need Europe and Japan to drive growth, as gas-guzzling America is looking vulnerable.
如果高耗油的美國繼續(xù)表現(xiàn)出經(jīng)濟(jì)疲軟狀態(tài)的話,那么隨著油價進(jìn)一步上漲,世界經(jīng)濟(jì)將需要歐洲和日本來推動。
The yen continued to fall sharply across the board meanwhile following weak Japanese data overnight, allowing popularity for the carry trade to continue.
隔夜公布疲軟的日本經(jīng)濟(jì)數(shù)據(jù)促使日元繼續(xù)下跌,推動套息交易的繼續(xù)。
The Japanese economy is recovered.
日本經(jīng)濟(jì)已經(jīng)復(fù)蘇。
The Japanese economy advances swiftly and vigorously in recent years.
近年來,日本經(jīng)濟(jì)突飛猛進(jìn)。
The appreciation of Japanese Yen has greatly influence its economy.
日元升值對日本的經(jīng)濟(jì)有很大的影響。
Economic weakness does not immediately suppress the actual price.
經(jīng)濟(jì)疲軟不會馬上就對實際價格產(chǎn)生抑制。
We should draw lessons from the measures and historical experiences of government to harness inflation and economic weakness in early foundation.
我們應(yīng)當(dāng)借鑒建國初治理通漲和經(jīng)濟(jì)疲軟的措施及歷史經(jīng)驗。
However, by the year-end when inflation had cooled, the fears of an economic slowdown did not take place.
但是,到年末通貨膨脹已經(jīng)冷靜下來,擔(dān)心經(jīng)濟(jì)疲軟的現(xiàn)象也沒有發(fā)生。
There are still many vacationers who are battered by the effects of a weak economy. They will be pinching pennies and cutting corners as perhaps never before.
很多度假的人仍受經(jīng)濟(jì)疲軟的影響,他們將會分文必較,精打細(xì)算,恐怕以前從未如此。
The Japanese economy developed at a high speed after the Second World War.
日本戰(zhàn)后經(jīng)濟(jì)高速發(fā)展。
Japan's economy has been stagnant for more than a decade, occasionally gaining steam but failing to maintain consistent growth.
在過去的10多年中,日本經(jīng)濟(jì)一直陷于停滯不前的狀態(tài),偶爾的增長往往不能穩(wěn)定持續(xù)下去。
Hopes are that steady improvements in the job market and resulting income growth will prompt Japanese consumers to spend more, strengthening the nation's nascent economic recovery so far sustained by exports.
勞動力市場的穩(wěn)步提高有望推動國民收入穩(wěn)步遞增,進(jìn)而促進(jìn)國內(nèi)消費市場的發(fā)展,使剛剛顯現(xiàn)出復(fù)蘇態(tài)勢的日本經(jīng)濟(jì)持續(xù)當(dāng)前的形勢。
Merlin: I heard that you're planning to buy a car?
梅林:聽說你打算買車?
Jessica: Yes, I've long been eager to buy a Honda.
杰西卡:是的,我一直都想買一輛本田汽車。
Merlin: It is said that being affected by the severe earthquake and tsunami, the automobile manufacturers like Honda, Toyota and Nissan have stopped production.
梅林:據(jù)說受到日本地震和海嘯的影響,日本的豐田、本田和尼桑等汽車制造商都已經(jīng)停止生產(chǎn)了。
Jessica: Yes, this earthquake has great impact on Japanese economy and people's life.
杰西卡:是啊,這次地震給日本的經(jīng)濟(jì)和生活帶來了非常大的影響。
Merlin: It is reported that the economic loss of Japan has exceeded 230 billion dollars.
梅林:據(jù)報道日本的經(jīng)濟(jì)損失已經(jīng)超過2300億美元了。
Jessica: It is undoubtedly worsen the situation of Japanese economic weakness.
杰西卡:這無疑使已經(jīng)疲軟的日本經(jīng)濟(jì)雪上加霜。
Merlin: Japan has always been the country with strong economic power, isn't it?
梅林:日本一直以來都是世界經(jīng)濟(jì)強(qiáng)國,不是嗎?
Jessica: There are many reasons that lead to its recession.
杰西卡:很多原因?qū)е铝巳毡窘?jīng)濟(jì)的疲軟。
Merlin: For example?
梅林:比如呢?
Jessica: First, during the past 20 years, Japan undergone continuous rotation of political parties. The instability of political situation has severely impeded its economic development. Second, the frequent automotive security issue of Japanese cars in recent years decreases the people's confidence. Coupled with the impact of the earthquake, the Japanese auto industry is suffering an unprecedented crisis. Third, Japan's household appliance industry has encountered a bottleneck, with its advantages towards other countries become less obvious. Besides, Japan is stepping into the aging society. One in five Japanese are the old, which cause the lack of domestic demand, go against the survival and development of enterprises, and lead to large amount of unemployment.
杰西卡:首先,近20年來日本的政黨不斷輪換。政局的不穩(wěn)定嚴(yán)重阻礙了日本經(jīng)濟(jì)的發(fā)展。其次,近幾年來日本汽車不斷出現(xiàn)安全性能問題,導(dǎo)致了民眾對日產(chǎn)汽車的信心大幅降低。再加上這次地震的沖擊,日本汽車產(chǎn)業(yè)受到了前所未有的危機(jī)。第三,日本的家電產(chǎn)業(yè)也遇到了瓶頸,對于其他國家的領(lǐng)先優(yōu)勢變得越來越不明顯。此外,日本逐漸進(jìn)入老齡化社會,每五個人中就有一個老年人。這會造成國內(nèi)消費需求不足,不利于企業(yè)的生存和發(fā)展,并且造成大量的失業(yè)。
Merlin: There are many people who choose to suicide because of unemployment.
梅林:日本每年都會有很多人因為失業(yè)而自殺。
Jessica: Because Japan still plays an important role to the global economic development, its economic recession must have negative effect on the economic development of other countries.
杰西卡:由于日本對全球經(jīng)濟(jì)的發(fā)展仍然具有重要的作用,因此其經(jīng)濟(jì)的疲軟必然會影響其他國家的經(jīng)濟(jì)發(fā)展。
Merlin: Our country imports large quantity of cars and high-tech products from Japan and exports agricultural products to Japan every year. Its economic recession must have serious effect on our country's economic development.
梅林:我國每年都會從日本進(jìn)口大量汽車和高科技產(chǎn)品,并且向日本出口很多農(nóng)產(chǎn)品。日本的經(jīng)濟(jì)衰退一定也會對我國的經(jīng)濟(jì)發(fā)展造成嚴(yán)重影響。
Jessica: Yes. Now all the countries in world are mutual dependent.
杰西卡:是的。如今世界各國的經(jīng)濟(jì)都是相互依存的。