Japan's Nominal Wages up Almost 1% in April

While April may have been cruel to Japan in many regards (see Alert of May 29), it was very kind on wage front. Nominal wages per worker were up 0.9% from last April—three times as much as the consensus forecast.

TPP waiting on US Congress

June issue of the The Oriental Economist. Topics include the possible conclusion to the TPP pact, the debate on the national security bill and the myth of the 5 million lost jobs.


A quick note on Japan's upward GDP revision, the status of TPA and TPP negotiation.

TOE Alert: Senate Reaches Deal on TPA vote; Question is When

Senate Republicans and Democrats reached a deal this afternoon to get a vote to begin debate on Trade Promotion Authority (TPA), following yesterday’s failure.

TPA Vote Today was Part of the Negotiations

Trade Promotion Authority (TPA) has been delayed by today’s vote in the Senate against immediate opening of floor debate, but it definitely does not mean that TPA is dead. Rather, the vote is part of the negotiations between the Democrats and Republicans on how many other matters will be bundled together with TPA.

Who Wins, Who Loses?

In this report Richard analyzes who has gained and who has lost because of the yen’s big depreciation.

TOE Alert: The Cost of the Weak Yen: 5% of Gross Domestic Income

The 30% depreciation of the yen could be lowering Japan’s standard of living by as much as 4-5%, according to the GDP figures,

Can Cheap Yen Drive GDP Growth, Part 2?

In this report Richard analyzes why the yen’s weakness might not trigger a surge in the trade surplus that drives GDP growth as in the mid-2000s.

Tokyo Says Don't Expect TPP Deal at Summit

Richard analyzes the remaining issue for Japan and the U.S. to reach a bilateral deal in time for the upcoming summit in Washington.

TOE Alert: Record low turnout and uncontested seats give LDP triumph in local elections

This report analyzes why Abe's victory in local elections does not reflect support for either Abenomics or any other of Abe’s policies, as claimed by the Abe team.