Japanese Trade Data Collapses, Crushes “Devalue Our Way To Prosperity” Dreams

• Japanese Trade Data Collapses, Crushes “Devalue Our Way To Prosperity” Dreams
  by Tyler Durden, www.zerohedge.com  
  Seriously – how many more times can a central bankers’ policies be exposed for the total sham that they are?
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  “The turmoil in global markets is making companies cautious about spending and also weakening global demand. That will be negative to Japanese exports,” Hiroaki Muto, chief economist at Tokai Tokyo Research Center in Tokyo, said before the trade report was released.
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  “There will be no driver for Japan’s economy as domestic consumption may remain weak, and sluggish exports and production may weaken capital spending in the coming months.”
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  Japanese trade data was just unleashed on the world… and it is abysmal.
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  * JAPAN JAN. EXPORTS FALL 12.9% Y/Y
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  Notably worse than the expected 10.9% drop and the biggest YoY plunge since October 2009. This was driven by a collapse in exports to the most rapidly contracting marginal economy in the world: China. According to Bloomberg, “exports to China, Japan’s largest trading partner, were down almost 18 percent, driving an overall decline of nearly 13 percent in the value of overseas shipments in January from a year earlier. Imports dropped 18 percent, leaving a 645.9 billion yen ($5.7 billion) trade deficit, the Ministry of Finance said on Thursday.”
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  read more.

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