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It's not like folks here regularly shop in USD. Sure, summer vacations in Hawaii have become more expensive, but... Import-dependent companies - different stor
by lobochrome 3y ago
It's not like folks here regularly shop in USD. Sure, summer vacations in Hawaii have become more expensive, but...
Import-dependent companies - different story. Export-oriented companies: Yeehaw.
- deleted 3y ago[deleted]
- justworkout 3y agoJapan is an import-dependent company. Fuel and food are mostly imports, so that hurts everyone. And export oriented companies are making money. But trickle down economics is a myth, so it's not benefitting the workers. The executives are doing nicely so good for them I suppose.
- hinoki 3y agoMaybe trickle down economics works if you ask nicely? :-) https://asia.nikkei.com/Economy/Japan-PM-Kishida-asks-companies-for-larger-pay-hikes-in-2024 https://asia.nikkei.com/Economy/Japan-PM-Kishida-asks-compan...
- rayiner 3y agoApparently many American and European consumer products have pricing that tends to be indexed to USD. According to my wife, the Japanese women on her handbag forums are quite salty about the price of Chanel and such these days.
- lobochrome 3y agoSure. As we are salty about the price of Apple products. But how often do you buy this stuff? Day in and day out, my bowl of Ramen is still 600 JPY. My veggies come from Aomori and my Milk from Hokkaido. It's fine. I work in a company that has 95% export and my salary is paid in EUR/JPY and USD (don't ask). So I actually benefit quite a bit. But your average Japanese citizen is just not that much affected. (Unless she buys a lot of imported goods).
- rurp 3y agoThis seems pretty spot on. I would bet that the median Japanese citizen cares infinitely more about local food prices than the cost of a chanel bag.
- rayiner 3y ago> As we are salty about the price of Apple products. But how often do you buy this stuff? Even if you splurge on a foreign luxury product once a year, it can seem like a downgrade in standard of living. Perhaps especially so if your special occasion is impacted and meanwhile you’re not seeing any higher affordability of domestic goods. I mean, my whole family got a kick out of spending much less than expected for a week while we were in Japan, even though the other 51 weeks this year we will be dealing with US inflation. Psychology around inflation is weird.
- justworkout 3y agoFood prices have shot up an insane amount. I was getting milk for 130 yen a carton 3 years ago and now it's 230 and up. Wheat is virtually all imported and prices for that are incredibly high. Even when food is produced locally (only about 38% self-sufficiency rate--most are exports[1]), it depends on foreign materials. e.g. Animals are fed imported grains, plants use imported fertilizers, manufacturing depends on imported materials. The biggest complaint from Japanese Japanese (not expats paid in USD) is that food prices have blown up tremendously. It's literally daily headline news. But yeah yeah, the underclass is only complaining about their Apple hardware prices. [1] https://japannews.yomiuri.co.jp/editorial/yomiuri-editorial/20220920-59439/ https://japannews.yomiuri.co.jp/editorial/yomiuri-editorial/...
- dboreham 3y agoI don't run in Channel circles but LV and Prada are much cheaper in Japan rn. Another handbag hack is to purchase in Hawaii because the retailers charge less there than mainland to address the Japanese tourist market.
- KptMarchewa 3y agoOh yeah, Chanel bags, the common expense for a median customer.