The But not much related to the body, because the data of 2010 of the major countries has been published, it updates here also dependence on foreign trade, export dependence, the dependence on imports.
[2010 major countries dependence on foreign trade, dependence on exports, dependence on imports]
Mitsuhashi Takaaki official blog "blog to a new century of Big Brother" Powered by Ameba
http://members3.jcom.home.ne.jp/takaaki.mitsuhashi/data_33.html#Boeki
Mitsuhashi Takaaki official blog "blog to a new century of Big Brother" Powered by Ameba
http://members3.jcom.home.ne.jp/takaaki.mitsuhashi/data_33.html#Yushutsu
Source: JETRO, Cabinet Office, Ministry of Finance
※ trade dependence = (exports + imports of goods of goods) ÷ nominal GDP
※ export ÷ nominal GDP of export dependence = goods
※ import ÷ nominal GDP of dependence on imports = goods
Dependence on exports is in ascending order, Brazil, the United States, Japan. Dependence on imports is in ascending order, Brazil, Japan, the United States. Numerical value of this area has not changed much.
By the way, why this time Speaking of what not on French data, because that is not why posted the GDP data, and the like of the '10 edition of France to JETRO. Because I think of them rests, we will it also updates if that happened.
Focusing on trade dependence and dependence on exports, this year (rather than 2010) I numerical value of Korea and Germany have increased at once. The two countries, is that completely foreign demand dependence is growing. In particular South Korea, trade dependence on me 87.9%, to what extent will the domestic demand is weak.
The South Korea and summarizes the Japan like "The external demand dependence on high Japan and Korea", I can not believe that there are critics to put a stupid Makurakotoba. I'm sure, or head as it is not possible to understand the data is bad, you'll either have not seen any data.
Well, the main topic. Because Summers Mr. has written a "long ~ Lee column" Reuters, published the first half only.
"Column: US employment crisis, the economy in the midst of a lost decade = Summers Mr.
http://jp.reuters.com/article/mostViewedNews/idJPJAPAN-21673520110613
The United States has prevented skillfully collapse and depression of financial by mobilizing the policy in 2008 ─ 09 years and the domestic economy is in the midst of '10 still lost.
First quarter ─ 2011 year average economic growth rate of five-year first quarter 2006 is not less than 1%, it is in situations such as similar to the post-bubble Japan. During this period, the employment rate decreased to 58.4% from 63.1%. Workers has been reduced more than 10 million people. After bottoming out of the economy also employment rate has not changed much, recently have come up with signs of economic slowdown.
If the situation is prolonged production is below the potential, not only employment and income, the future also be sacrificed. This month, scale graduate students of which could not be imagined once is, there is no work and life means, returned to parents. Budget is insufficient in the United States of the school, reduce the high degree of math and science, only four days a week has come out also teaching is not performed case. Decreased current and future income and tax revenue is a major cause of the current and future of unacceptable budget deficit.
To write a prescription, it's necessary to understand the exact diagnosis and pathogenesis. The recession, demand is too small for the production of the company, it's the state that can not hire job seekers all. The current high unemployment period such as, apparently has been insufficient demand adoption of the company, morale of workers is not missing.
Looking at the current situation (1) turnover and the number of jobs is in close to the record low level, (2), regardless of the skills and educational background, have increased the unemployment rate in almost all groups, (3) profit margin Given the deterioration of the rise and wage increases, workers employer is ── it can be seen that have the power in almost all of the market rather than.
I, the root cause of production is below the potential has been appealed always to be a lack of demand. If you overlook the importance of demand, it is because become a serious thing.
Franklin Roosevelt President, if there is no expansion of the military involved in it and Hitler's rise, would have been deposed as misgovernment who at the beginning 1941. Domestic unemployment rate is more than 15%, even economic recovery wearing a path in the New Deal policy, up to early voices to assert the traditional values of budget deficit reduction and inflation in 1937, the economy able to have hope It was gone.
When I went into the Clinton administration in 1993, the potential growth rate of Japan is 4 percent, view of the gross domestic product is doubled to up to now was common. In fact, Japan's economy is hardly growing at the aftermath of the collapse of the bubble economy.
Constrained ailing economy on demand, a completely different movement from the normal economy. A policy that would lead to growth and job creation would normally, does not exert little effect, or there is a case to become the opposite effect. The constrained economic demand, increasing the potential supply, the effect can not be expected.
Economy is recession, if the move to the expansion of consumer savings and the reduction of borrowing, demand is reduced, and as a result employment also reduced. Regardless of the level of income, vocational training and awareness program might help the individual's employment, as long as the constraints of demand continues, it does not affect the overall number of jobs. Very paradoxically, measures that lead to improved productivity and efficiency, as long as the demand does not arouse the same time, there is a fear that leads to a reduction of workers. Overall production levels, because it continues to be constrained demand. (Koryaku) "
Exactly, in the economy that have fallen to the status of "supply capacity> demand" is, measures that lead to the improvement of productivity and efficiency, "as long as you do not want to stimulate demand at the same time", simply the end only of the results increase the unemployed . And, an increase of unemployment leads to a decrease in personal consumption of GDP (etc.), in order to suppress the demand, I fit into the vicious circle of "supply capacity> demand" is increasingly worse.
Summers says is that "the root cause of production is below the potential has been appealed always to be a lack of demand" is, I would think "real or I wish ...", but has written to at least this column It is, I think all's right.
Sick economy that has been constrained to demand, then a very normal economy and different movement. Speaking to Kinoshita Eizo teacher style, it is a "depression economics" "normal economy". Writing is easy to understand more, it is the difference between "deflationary economy," "inflation economy".
Since troublesome it will use the figure at the time of the Nikkei BP series, but in the in the following as domestic supply capacity (potential GDP) is significantly higher than the demand (real demand), deflationary gap is growing, so-called supply economic policies of the side is not valid. more than deflationary gap exists, even if unilaterally expand the potential GDP (supply capacity), it has no meaning. We must also create a "demand" at the same time.
[Real problem deflationary gap in the Japanese economy]
http://business.nikkeibp.co.jp/article/topics/20110224/218588/?SS=nboimgview&FD=54139247
Speaking of who is to expand the "demand", there is no course only government. The return on investment in an environment that is greater than the real interest rate, must not be to us create a demand to take the initiative themselves companies.
And, the government until it can be determined and the economy has emerged to ensure deflation, we must continue to demand creation. As Roosevelt administration and the Hashimoto regime, completely in spite of nor was outgrow deflation, when you turn off the rudder to the austerity route, it will be once again revert to panic.
Even so, free trade advocate of crisp and Summers who was globalization advocates, and called out, such as "The problem is demand," If you are reading the column, certain, there is something eerie.
Expected to be we hit near the end of the column, Summers said,
"For example, the Obama administration, modernization of export control, selling in overseas of US products, through the engagement and the entry into force of the trade agreement, has been an important task of promoting the export."
It has said such.
I supplement the domestic lack of demand in export promotion, and Oh yeah free trade rather than such, it would be just a beggar-thy-neighbor policies! American pragmatism of this area I think that we should emulate, but for the time being on the understanding "American strategy", and I'll be referred to as "TPP! TPP!", Japanese media of everyone.
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