Until 2000, the relevant Japanese authorities turned to forcibly inject capital into large-scale banking institutions japan property agency, requiring them to carefully clean up huge non-performing assets, and even promote the merger and reorganization of the financial industry to reduce indigestible loans, so that deleveraging returns to the “right way.” “However, because Japan had previously consumed a lot of loose monetary policy and active fiscal policy implementation space in order to avoid surgery, they were unable to give stronger incentives for economic growth, and the Japanese economy had to go through more than 10 years of downturn. Only gradually recover from the deleveraging process japan property agency,” he pointed out. With the continued recovery of the Japanese economy in recent years japan property agency, many financial institutions believe that the “Abenomics” that was launched in 2012 allowed the Japanese economy to complete the deleveraging process since the 1990s japan property agency. “In fact, this cognition may be wrong.” Mei Hezhuo bluntly told reporters. The current Japanese economy is still affected by the erroneous sequelae of previous mistakes japan property agency. Specifically, most Japanese companies are more inclined to hoard cash japan property agency, slowly repay their previous debts, and are not willing to start new investment and continue their own deleveraging process. As a result, the asset-liability ratio of private enterprises has continued to fall in recent years, making the Japanese economy still deflated in these years. Under the shadow, and GDP growth rate is not high. In her view, this forced the Japanese government to finally offer an unprecedented ultra-loose monetary policy (as well as fiscal policy), and further promote economic growth through government-led large-scale infrastructure investment instead of private investment. “It remains to be seen whether this will be successful.” A domestic financial institution macro economist bluntly said that the current financial market is worried that these policies will bring new negative impacts on the Japanese economy: First, in order to ease the financial support and continue to tighten Pressure, the Japanese government has raised the consumption tax, and the consumption enthusiasm of the Japanese people who used to save their debts has further declined. Second, Japan’s negative interest rate policy has greatly weakened the profitability of local banking credit, and indirectly increased financial market risks. The impact has been reflected. As a result, once the Japanese economy shows signs of new recession, many banks will increase the pressure on the bad debts due to lack of sufficient profits, or trigger a new round of financial institutions to close the tide and increase the Japanese financial market system. Sexual risk. The relevant Japanese authorities are also alert to this. In mid-November, the Bank of Japan issued the latest financial system report, saying that the financial industry’s risk-taking has reached a new high in nearly three decades. The reason is that many Japanese banks continue to increase their real estate investment and loan quotas for medium-risk borrowers and high-risk enterprises. However, under the negative interest rate, the core capital ratio of more than 100 regional banks is gradually falling, making it difficult to earn. Take the risk that matches the risk; second, the competition in the domestic credit business is fierce and the demand growth rate is not high.
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