This is becoming interesting watching Japan’s economy crumble with no domestic demand, an aging population, a completely disenfranchised youth who more and more aren’t even bothering to get their drivers licenses, an aging population and massive social welfare benefits. The aging population are now so heavy sided that people are dying faster than they can be cremated and are being placed in cold storage until a cremation date can be secured. Watch the pundits come out in full force to offer their respective comments about the Nikkei, FX trading and the Japanese economy about how it can be corrected and it’s only temporarily, and that Japan will recover. With this economic news on Japan the threshold has been reached for me, so it’s time to begin to seriously think about punching out of Japan. Let me give an example of how arrogant Japan’s corporations are that are in serious need of reform.
It’s the same with fire extinguishers manufactured in Japan. Almost everywhere else in the world fire extinguisher manufacturers have their products approved by UL standards. UL is the American worldwide safety consulting and certification company headquartered in Illinois. UL maintains offices in 46 countries. When I tried selling fire extinguishers manufactured in Japan in Qatar last year, the Japanese manufacturer who I went to visit with at their corporate headquarters here in Tokyo, didn’t get the UL rating. There are other standard testing companies as well, not just UL in the U.S.. The Japanese fire extinguisher manufacturer I tried working with didn’t get any of these standard tests done for safety. Once the rating standards for safety are met, products including fire extinguishers, can be sold in almost every country that accepts the UL testing standards including in Qatar. When I presented the fire extinguisher in Qatar on several business trips, the first place I was taken to was the Ministry of the Interior, and after some decent Arabian tea, they asked for the UL certification. We were up shit creek without a paddle in dry Qatar.
This prevented us from selling the fire extinguishers in Qatar. The Japanese have their own standards and their thinking is, and because of their arrogance, their manufactured products are some of the best in the world, so they won’t submit to outside testing. So what the Japanese do, is get into countries in Asia that don’t use those standards and create there own manufacturing base and sales in those countries for their fire extinguishers for example. The market in Qatar for fire extinguishers is just astonishing with 50 hotels expected to be built over the next ten years and Japan lost that market. I could have gotten it for them, or at least a good percentage as well as facilitating a manufacturing plant in Qatar for fire extinguishers, but they refused to work with me by getting the UL standard or equivalent safety testing done.
Japan Shares Sink With Yen Near 18-Month High; Oil, Copper Drop
Japan led a sell off in Asian stocks as the yen held near an 18-month high, while crude oil and copper declined. European equity index futures advanced before manufacturing data.
The Topix index slid for a fifth day as trading resumed after a break on Friday, during which the yen capped its steepest back-to-back gains since the global financial crisis. Australian banks declined after Westpac Banking Corp.’s earnings missed estimates. Copper fell in New York, after the biggest monthly jump in a year. Oil retreated, following a 20 percent surge in April, as near-record Iraqi output added to anxiety over a global glut. U.S. Treasuries advanced and Japan’s 20-year bond yield sank to a record. Many financial markets are shut for holidays, including those of China, Hong Kong and the U.K.
The yen soared almost 5 percent on the final two trading days of last month as the Bank of Japan unexpectedly refrained from boosting stimulus amid fading prospects for a U.S. interest-rate increase in June or July. While a weakening dollar helped boost commodities prices in April by the most since 2010, global stocks’ rebound from a three-year low in February is stumbling as economic data and corporate earnings do little to lift investor sentiment.
“We expect short-term share market volatility to remain high,” said Shane Oliver, head of investment strategy at Sydney-based AMP Capital Investors Ltd., which oversees about $120 billion. “Failure by the BOJ to do more soon risks unwinding all the progress on inflation expectations seen.”
U.S. consumer spending rose less than economists forecast in March, a report showed Friday, wrapping up the weakest quarter in a year for the biggest part of the nation’s economy. China released an official manufacturing gauge over the weekend that added to evidence its economy is stabilizing, and comparable measures are due Monday for the U.S. and the euro area.