{"id":7505,"date":"2015-04-23T06:23:22","date_gmt":"2015-04-23T11:23:22","guid":{"rendered":"http:\/\/olduvai.ca\/?p=7505"},"modified":"2015-04-23T06:23:22","modified_gmt":"2015-04-23T11:23:22","slug":"potemkin-on-the-pacific-abenomics-is-still-failing","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=7505","title":{"rendered":"Potemkin on the Pacific\u2014\u2013Abenomics Is Still Failing"},"content":{"rendered":"<h3 class=\"entry-title\"><a href=\"http:\/\/davidstockmanscontracorner.com\/potemkin-on-the-pacific-abenomics-is-still-failing\/\" target=\"_blank\">Potemkin on the Pacific\u2014\u2013Abenomics Is Still Failing<\/a><\/h3>\n<p>For the first time since June 2012 Japan has attained a trade surplus. It is, however, premature to interpret that as an end to the impoverishment the island has undertaken these past three years, the last two under QQE. There are various reasons for the end of the negative trade imbalance, but the most significant surround the Chinese New Year.<\/p>\n<p>China\u2019s annual holiday plays havoc with any number of economic accounts of its own, but it should not be surprising to see its closest trade partners under the same difficulties in measurement. Unfortunately for Japan, as QQE was intended to foster trade in the other direction, China remains the most visible and deepest supplier for Japanese industry. As such, the level of activity from China is the largest single source in variability \u2013 with crude oil imports now a distant second, contrary to expectations.<\/p>\n<p><a class=\"image-anchor\" href=\"http:\/\/www.alhambrapartners.com\/wp-content\/uploads\/2015\/04\/ABOOK-April-2015-Japan-Trade-Def.jpg\" target=\"_blank\"><img loading=\"lazy\" decoding=\"async\" class=\"aligncenter size-full wp-image-29729\" src=\"http:\/\/www.alhambrapartners.com\/wp-content\/uploads\/2015\/04\/ABOOK-April-2015-Japan-Trade-Def.jpg\" alt=\"ABOOK April 2015 Japan Trade Def\" width=\"661\" height=\"341\" \/><\/a><\/p>\n<p>The overall March surplus for Japan was just under \u00a5230 billion, but imports from China fell 19.4% in March. That was undoubtedly an adjustment for activity in February, as imports from China surged almost 40% that month. This exchange in monthly trade balance with China more than accounts for the Japanese surplus: February\u2019s deficit with China was \u00a5769 billion on that surge in imports, while March\u2019s deficit came in at only \u00a5174 billion. Thus without the China\u2019s variability there would still be a serious trade deficit in March for Japan overall.<\/p>\n<p>&nbsp;<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Potemkin on the Pacific\u2014\u2013Abenomics Is Still Failing For the first time since June 2012 Japan has attained a trade surplus. It is, however, premature to interpret that as an end to the impoverishment the island has undertaken these past three years, the last two under QQE. There are various reasons for the end of the [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[1265,195,201,353,452,2247,805],"class_list":["post-7505","post","type-post","status-publish","format-standard","hentry","category-economics","tag-abenomics","tag-debt","tag-deficit","tag-gdp","tag-japan","tag-surplus","tag-trade"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7505","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=7505"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7505\/revisions"}],"predecessor-version":[{"id":7506,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/7505\/revisions\/7506"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=7505"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=7505"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=7505"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}