This article answers two questions - the real role of Japan's ycc policy, and the reasons for Japan's deflation. The following content is completely outside the framework of Western economics and only talks about facts rather than theory. Japan's YCC locks in both long-term and short-term interest rates at 0, close to 0. This monetary policy has two effects - The first is that it is difficult for foreign capital to flow in, so that no one can invest in Japan. Because no matter which country you
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