Japan's QE was in response to deflationary pressures. That's a far cry away from QE while inflation is already happening. Further, I don't see why you can't ha

Japan's QE was in response to deflationary pressures. That's a far cry away from QE while inflation is already happening. Further, I don't see why you can't have two completely different reasons for the same effect. And while demographics are important, I wouldn't call it the primary effect, instead I'm with Haruhiko Murayama from the Bank of Kyoto: "[Japan deflation is caused by] a lack of demand, which in turn is attributable to the fact that emerging countries such as China, South Korea and Taiwan have come to manufacture inexpensive high-quality electrical products by introducing new equipment and by taking advantage of their cheap labor."