General

As one of the relatively developed countries in the Asian region, Japan has a small land area. For a long time in the past, the country's economic development depended on foreign trade. To some extent, this is a country that relies on foreign trade to establish its country. Huacheng Import and Export Data Observation Report.

However, after entering the year of 2022, Japan's foreign trade suffered a heavy blow, and the trade deficit hit a record high. This is a heavy blow to the local economy, and will even affect the long-term development of the country in the future. So how big is the economic blow? Next, let's take a look at the specific content.

1、 Japan's trade deficit hit a record high

According to Huacheng Import and Export Data Observation, the total trade deficit of Japan has reached about 20 trillion yen in the past year. Over the years, Japan has been developing very well in foreign trade. Although there has been a large trade deficit, it has never reached the height of 20 trillion yen!

Such a high total trade deficit is certainly not good news for Japan's economic development. However, under such circumstances, some scholars still believe that Japan's economic development is not as bad as we think. The basis for supporting this view is the revenue of Japanese overseas assets.

In the past year, the revenue of Japanese overseas investment was about 30 trillion yen. The difference between the two is as high as 10 trillion yen. Can we draw the conclusion that Japan's economic development is still optimistic through such simple calculation? Of course, the answer is no, after all, the development of the country is different from our life, and we can draw a conclusion by simply adding and subtracting.

Objectively speaking, the revenue capacity of Japanese overseas assets is indeed considerable. However, the development of overseas assets drives the economic development of the region or country, not the development of Japan itself. Under such circumstances, the overseas investment revenue of 30 trillion yen is difficult to bring much help to the development of the domestic economy.

Although the United States is also facing the same situation, there is a big difference between the United States and Japan. Although Japan was once the second largest economy in the world, its voice in the international economic market is not as high as that of the United States.

In addition to being the economic hegemon, the United States also owns the official currency of the United States dollar. The gap between the yen and the dollar must be known to all. Therefore, Japan cannot follow the example of the United States and boost its economic development through the revenue of overseas assets. The foundation of Japan is still in foreign trade.

2、 What we can learn from it

Like Japan, China is also a country that pays attention to the development of foreign trade. After entering 2023, China's foreign trade development has also suffered a corresponding impact. But our problem is mainly focused on the reduction of order volume, not the trade deficit.

In the process of foreign trade, we have always been in the position of trade surplus. As the factory of the world, we have sufficient strength and confidence to stabilize the trade surplus and will not fall into the predicament of trade deficit like Japan. Of course, Japan's current foreign trade dilemma is also worth our deep consideration.

At present, among the three carriages driving China's economic growth, the proportion of foreign trade is still high. In order to avoid risks, we must transform and upgrade the economic structure, and cannot blindly rely on foreign trade to drive the development of our economy. During this period, the relevant departments are also constantly emphasizing the importance of internal circulation, promoting economic internal circulation and realizing bilateral economic development, so as to go more steadily.

Part of the reason why Japan is now suffering from the difficulties of economic development is the failure of internal circulation. This is also related to the actual situation of the country. After all, Japan's market is not large, and it is not easy to achieve economic internal circulation. As the largest consumer market in the world, China still has advantages in this respect. Huacheng Import and Export Data Observation Report.

The second is to increase the internationalization of the RMB and continuously improve the status of China's official currency in the international monetary system. This is not only a matter of face, but also a direct impact on the country's future economic development. Finally, we should try our best to weaken the impact of the US dollar on China's official currency and not always use the US dollar as the anchor point.

For any country, the issuance of its official currency cannot always be anchored by the dollar currency. It is undeniable that the US dollar has a very high status and is the currency with the highest proportion of foreign trade reserves of all countries. However, in terms of the current development situation, excessive bundling with the US dollar will only bring greater uncertainty to the domestic currency, thus affecting the development of the domestic economy.

In short, the economic development in 2023 is not as easy as we think. In this turbulent flood, we must make enough efforts to survive alone. Although Japan's current foreign trade dilemma is still far away from us, it also needs our attention and reflection. Only by making changes in time can we avoid the same predicament in the future, Huacheng Import and Export Data Observation reported.