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Japanese yen: economy booster or Tokyo dilemma
Japan is facing a yen strength crisis, as the weakness of the currency has made the country a cheaper tourist destination and reduced its competitiveness, despite boosting exports in the short term. The yen has lost a third of its value against the euro over the past five years, leading to higher import costs and a negative impact on citizens' lives. Japan has attempted, in cooperation with the United States, to support the yen through interventions in the foreign exchange market that only succeeded temporarily, amid calls to raise the main interest rate to strengthen the currency. Such measures are risky due to the country's aging population and debt exceeding 200% of GDP. Long-term solutions are expected to require improving the investment environment by reducing government spending and implementing economic reforms to stimulate growth.
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