The yen's out-of-control appreciation has had a lot of impact on neon domestically.

The neon government buys dollars as one of the self-help means, and going to the father of the country is asking for help.

Unfortunately, neither of these measures has had any effect, and even the latter may be gloating.

So will the neon government stand idly by and watch the yen continue to climb higher? Apparently not.

While the neon government keeps making small patches to cool down the yen, the Nakasone cabinet is also considering corresponding countermeasures.

In October last year, after the Plaza Accord, Takataka Hosomi, president of the Overseas Economic Cooperation Fund of the Ministry of Finance, who was relied on by Nakasone, was already considering the appreciation of the yen.

During this period, he created a "Hosomi Note" on "Procedures for Inducing the Yen to Rise," which not only stated that "the appropriate yen-dollar exchange rate should be set at around 170-180 yen per dollar, and gradually induce the yen to stabilize to that level."

At the same time, it is also stated that "long-term structural reform of agriculture, distribution, and small and medium-sized enterprises, which are protected by many government regulations but have low international competitiveness."

In addition to these, the note also mentions the relationship between Neon and the United States: "It is natural to ask the United States to make the necessary fiscal deficit reduction.

However, practical feasibility is also a problem, and we must realize that policy adjustment should be based on neon adaptation. ”

It can also be seen from this note that Hosomi's consideration of the appreciation of the yen is quite thoughtful and rational.

And the appreciation of the yen cannot blindly accommodate the United States, and its own adjustment and adaptation is the key.

So at his suggestion, the Nakasone cabinet gathered people from the financial and academic circles around him.

The establishment of its private consulting organization, the "Research Institute for Internationally Coordinated Economic Restructuring", is commonly known as the Maekawa Research Institute because its head is Haruko Maekawa, former president of the Bank of Japan.

This private advisory organization includes 18 members, including former BOJ presidents, ambassadors to the United States, presidents of major banks, and NHK commentators.

At the first meeting of the research group, Nakasone began by observing the recent international situation, especially the neon economic environment.

I don't think it's a time to talk and laugh, and if we don't adopt appropriate medium- and long-term policies at this time, it will not be difficult for the future of neon to be overshadowed by black clouds.

It is out of this sense of urgency that I have asked you to carry out this study.

Even shouting "A strong Japan needs a strong yen to support!" Nakasone himself is aware of the danger of the yen getting out of control, which shows how critical Neon's situation is now.

At this time, the neon government still insisted on continuing to ensure a certain amount of black words through economic cooperation with developing countries, investment by overseas enterprises, and guarantee of raw material imports.

The black word of the enterprise is the meaning of the company's profit, and neon companies are used to marking the profit part in black on the book.

Therefore, when the "black letter" is generally mentioned in the financial affairs of Neon Enterprises, it represents profit.

However, in order to do so, it will also be criticized by the international community, so it is necessary to carry out medium- and long-term structural adjustment of Neon's socio-economic structure.

Neon enterprises have a long-term surplus in foreign trade, which is not only for the United States, but also for other countries.

So everyone is of course unhappy when they see that Xiaori has been making money, so Neon has been under pressure from other countries in foreign trade.

Therefore, to the extent possible, Nakasone asked the study society to submit a report within March '86.

In the six months that followed, the study group held 19 meetings, and the report drafting committee held 13 meetings.

According to the information that Shirakawa Kaede learned, although this research group was held under the direct leadership of Nakasone, its actual operation was led by Maekawa Zainaga.

In April, the report was finally drafted and submitted to Nakasone.

The report points out that Neon's economic development has reached a period where it has to change, otherwise there will be a risk of crisis if it continues.

The specific goal is to set the medium-term national policy goal of narrowing the current balance of payments in a coordinated and reliable manner internationally. ”

At the same time, corresponding structural adjustments should also be made in view of the financial black letters.

In response to the above problems and objectives, the report suggests that it is essential to fundamentally transform the industrial structure of foreign trade, and at the same time, to work on appropriate exchange rate adjustment and stability.

and further promote the liberalization and internationalization of the financial and capital markets. At the same time, we will strengthen economic cooperation with foreign countries.

"Further promoting the liberalization and internationalization of the financial and capital markets" is one of the key measures that follow.

Most of the first part of the report analyzes the current economic environment of Neon, as well as the goals and recommendations of reform.

It is only at the end that it lists the specific measures of Neon to deal with the exchange rate.

The first, and most important, is to expand domestic demand.

How? We will take the lead in stimulating economic activity through the promotion of housing measures and urban redevelopment business.

Pandora's Box has been officially opened!

At the same time, measures such as the enrichment of consumer life, the reduction of working hours, and the promotion of social capital at the local level are also being proposed.

The simple and crude translation of these two points is to pay more wages, reduce working hours, and spend more money for the people.

As for the local level, local capital is allowed to invest abroad!

It's just that all the restrictions on local consortia have been removed, and now you can do whatever you want, and no one cares.

In addition to expanding domestic demand, the other is to adjust the structure of the neon industry, gradually move the manufacturing industry outward, and take the financial and service industries as the focus of future development.

And, as mentioned earlier, further promote the liberalization of international finance.

This means that Neon's stock market will be fully opened to overseas and no longer set various restrictions.

With real estate as the driving force, the stock market will be completely liberalized. The twin thunders of the bubble are planted on the same day.

Rainbow! Takeoff!

The famous Maekawa report, which was launched in April, sparked a huge response in neon.

There is no doubt that this report is good for Miri, so Xiaori has been well received by all walks of life in Mi.

On the contrary, the report has attracted a lot of criticism in the neon country.

The import of overseas products will lead to the bankruptcy of neon domestic small and medium-sized enterprises, and the presidents of the manufacturing industry have protested.

They accuse the report of being built for Mi, and that doing so will only push Neon into the abyss.

Under pressure, the neon government agreed to reopen the discussion, but in fact it was all about the Maekawa report that was implemented in private.

In order to stimulate domestic demand, the neon government has cut interest rates again in addition to the contents of the Maekawa report.

In just half a year, Neon's loan interest rate has dropped to 3.5%, which is already the lowest level of neon interest rates after the war.

While the neon government was busy pushing forward with the implementation of the Maekawa report, export-oriented small and medium-sized enterprises such as the metal and foreign food and textile industries in Japan were in trouble, and the economy basically came to a standstill.

As for the life and death of small and medium-sized enterprises, the neon government has not taken action, except for the conditions for banks to lend loans.

However, with an ultra-high exchange rate of 1:155, it is impossible for small and medium-sized enterprises to continue to make profits in foreign trade, no matter how hard they struggle.

They are very aware of their profit margins, and taking out loans from banks is just a dove to quench their thirst.

At the time of life and death, some small and medium-sized enterprises directly changed careers and stopped losses in time, and some simply took the money from bank loans to speculate in stocks.

Don't say that I don't do my job, since your government encourages financial investment, you can't let me wait for death.

As a result, under various factors, the small and medium-sized real industry has slowly disappeared, and on the contrary, the stock market has a group of active users.

After July, the neon finance minister was replaced, Noboru Takeshita retired, and Kiichi Miyazawa came to power.

His policies were more radical than those of Noboru Takeshita, and he stayed on policy for real estate stimulus compared to the Maekawa report.

Miyazawa Kiichi was in earnest that the Ministry of Finance approved a budget of 3,636 billion yen for public investment and housing construction.

After the neon government came down in person, the non-manufacturing industry, which was mainly residential, began to make great strides.

In addition to the large-scale purchase and hoarding of land by the construction club, various construction projects have been launched.

Individuals have also started to borrow large amounts from banks to buy houses and foundations.

Why? Because of this series of stimulus, land prices in Tokyo have risen by nearly 20% in half a year compared to last year.

The appreciation of real estate is much stronger than the stock market.

An investment of 5 million yen changes hands to a profit of 1 million yen, which is too easy to make money.

And the rise in housing prices has just begun, and everyone knows that under the stimulus of the policy, land prices will continue to rise for a long time in the future.

So he changed hands for 6 million yuan and continued to buy land, and then took the purchased land to the bank as a mortgage, and used the mortgaged money to continue to buy land, and then infinitely nested dolls.

Of course, only a small number of people are doing this now, and many people's brains have not been opened, and their steps are not big enough.

But don't worry, soon this operation will become popular on a large scale.

And because of such an environment, when Shirakawa Kaede returns to China, he will obviously feel the changes around him.

People are no longer so cautious in their speech, and their high-spirited spirit is all conveying a signal.

That is, all neon people believe that the era of Japan has really arrived.

Because of the stimulation of money, everyone's consumption is no longer as conservative as before.

Do you know what Shirakawa Kaede saw on the streets of Tokyo when he came back this time?

Ice cream coated in gold leaf! Damn it! It's real gold, not dyed with pigment.

"Xiao Feng, should we buy one and try it too."

Matsuda Seiko, who had just come out of confinement, took Shirakawa Kaede's arm and licked her lips with some greed.

Bai Chuanfeng glanced at her speechlessly, "Don't be so troublesome, there are gold nuggets at home, you can go back and nibble on them." ”

It's gold! Heavy metal! Do you think your skin is too good and your life is too long?

"Humph!" She was a little coquettish, and snorted very dissatisfied.

Shirakawa Kaede knew why she was in a bad mood, it was nothing more than that the twins gave birth to a pair of daughters this time.

Without a son by his side, Matsuda Seiko is under a lot of pressure.

Not just after the confinement, she began to work out to repair her figure, and at the same time prepare for the next pregnancy.

Regarding her panicked performance, Shirakawa Kaede could only comfort her with kind words.

Don't worry, in the future, the cubs will definitely go down one litter after another, and the son will naturally not be a problem.

Then in order to enlighten her, Shirakawa Kaede took her out for a walk, and as a result, she saw this scene on the street now.

If you look at the price, the gold leaf ice cream is about 15,000 yen per piece.

Crazy, really crazy.

When neon ice cream is used, it is marked in tens of thousands.

Look at the long line in front of the ice cream truck.

Shirakawa Kaede felt that it was so rare and strange that he was crazy.

(End of chapter)