Za Japan je Amerika važna kao i domaće tržište. I tu se onda neminovno pojavljuje dolar.
Ako je dolar slab izvoznici puše. Japancima treba jak dolar da ovaj rast koji su ostvarili ne uđe u slijepu ulicu!

Sto puta sam ti ponovio a ti još nisi shvatio – ključ globalnih ekonomskih odnosa leži ISKLJUČIVO u valutnim odnosima. Ako se tu postigne ravnoteža i dogovori ključna politika sve ostalo je luk i voda.

Dakle NEGIRAŠ političku ekonomiju!!!!
Exchange rate policies je u epicentru svih kriza od 1994. do danas!

Modern macroeconomic theory teaches us new lessons about exchange rates: Currency depreciations or appreciations that change the relative competitiveness of producers in different countries are undesirable from a global perspective if they lead to relative prices that do not reflect the
true relative costs of production.

7. CONCLUSIONS
The main conclusion of this paper is that there is a case for policy to stabilize exchange rates. Large fluctuations in exchange rates—even if they are not “excessive” fluctuations due to market sentiment or bubbles—can lead to inefficient allocation of resources. Unperturbed free markets in foreign
exchange cannot be relied upon to arrive at exchange rate levels that deliver terms of trade and real exchange rates that reflect the underlying economic productivity, efficiency, and competitiveness of economies. Probably the main case for freely floating exchange rates is a political one: Policymakers cannot be relied on to intervene in foreign exchange markets in a benign way. From a selfish standpoint, each country may have an incentive to devalue to gain a competitive edge. The competitive devaluations of the Great Depression loom large in the memories of many economists and policymakers. I conclude that some effort to control exchange rate fluctuations is desirable, but that it is best achieved in the context of cooperation among policymakers.

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Sava je u pravu, ti nisi, jer upravo deprecijacijom dolara američko gospodarstvo je postalo konkuretnije nego 1999. 2000. iliti 2001. kada je dolar bio oko 1.2 Eura ili oko 1.

Matematički da računaš proizvod kojemu je ista cijena u 1999. i 2009. kada je dolar bio 1.2 Eura, ili ove 2009.
npr 1999. nabavna cijena je bila u americi 10 dolara, a nabavna cijena bez prijevoza je bila 12 Eura, a ove 2009. npr. ista cijena proizvoda je 10 dolara, a nabavna cijena je 6,6 Eura bez prijevoza.

Iz ovoga jednostavnog primjera se može vidjeti jak utjecaj valute na jačanje izvoza ili povećanje uvoza.

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But in the simple models of Obstfeld and Rogoff (2000, 2002) and Clarida, Gali, and Gertler (2002), these misalignments do not require that central banks directly target exchange rates. When the dollar depreciates relative to the euro, for example, there will be an increase in aggregate demand for U.S. goods, and a switch in demand away from European goods. If the central banks target internal aggregate demand, as reflected in producer price inflation and the gap between actual output and its efficient level (the “output gap”), then the policy is automatically working to eliminate the currency misalignment. When aggregate demand returns to its optimal or efficient level, the exchange rate will have adjusted back into place where it is no longer leading to misalignments in demand for U.S. relative to European-produced goods.

ma znaš kaj, u pravu si majstore.

Svako jačanje kune i održavanje kune na nerealno visokoj vrijednosti zatvara radna mjesta u HR a otvara negdje drugdje! To je vrlo jednostavan princip i ne treba tu puno pameti.
Samo pitanje je koji je to realan tečaj i koje su posljedice realnog tečaja.
Budući da se stalno izbjegava u HR javnosti detaljno informirati koja je to monetarna politika stiče se dojam da nemamo adekvatne monetarne politike koja može naše gospodarstvo učiniti efikasnijim.