“One step is wrong, it is easy to step by step, and the deleveraging process is also the same japan property agency.” Recently, a domestic financial institution macroeconomist recently said with emotion. Since the resources of enterprises and financial institutions in the 1980s were heavily invested in real estate japan property agency, the Japanese real estate bubble burst in the early 1990s, and since then, Japan has had to start a difficult deleveraging process. “From the beginning of de-leveraging japan property agency, the methods adopted by the relevant Japanese authorities are not correct.” Recently, Nomura’s chief economist Mei Hezhuo recently admitted to the reporter that compared with the direct removal of “cancers”, Japanese authorities tend to curb through the use of stable leverage japan property agency. Real estate credit bad debts and low-efficiency debt assets continued to increase, and then stimulated economic growth through active fiscal policies and loose monetary policies japan property agency, pushing real estate prices to rebound, and thus solving the problem of deleveraging and economic downward pressure. In her opinion, this move is counterproductive japan property agency. On the one hand, under the pressure of Japan’s aging population causing a sharp increase in social security spending, active fiscal policy and loose monetary policy have caused fiscal imbalances and government debt problems, and overdraft the ability of the government to regulate economic growth; The policy became “small and small” when the de-leverage effect was not obvious. Instead, it caused the yen to appreciate and exacerbated deflation. “The mistakes of Japan’s deleveraging are also manifested in two levels.”Originally, these policies were mainly aimed at alleviating the economic downward pressure brought about by surgical operations such as cleaning up negative assets. However, the actual operation was used to avoid surgical operations to clean up negative assets, resulting in low policy results. The Japanese government lost the policy operation space to stimulate economic growth when it actually took surgery. “This is also the point that the relevant Chinese departments need to learn from the process of deleveraging to stable leverage.” The above-mentioned macroeconomic economists of domestic financial institutions pointed out. After all, the mistakes of deleveraging have caused the Japanese economy to fall into a long period of downturn. Some people call it the “lost 20 years,” and its sequelae are still affecting the Japanese economic recovery. A large number of companies are hoarding large amounts of cash in order to repay their past debts. Not willing to start new investments. “Fortunately, a large number of companies and individuals hoard large amounts of cash to reduce their debt size, and also make private savings enough to pay for Japan’s huge government debt, so that the Japanese government will not fall into a similar European debt crisis.” But he admitted that this Fortunately, it is not enough to cure the sequelae of previous deleverium mistakes. “When Japan discussed how to leverage in the early 1990s, many macroeconomic research institutions did not offer the same prescriptions.”In the actual operation, this set of delevering combination punches quickly deviated from the established track.
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