Zang Shijun

Academic, Anhui Academy of Social Sciences

Zang Shijun is an academic at the Anhui Academy of Social Sciences. He previously taught at Gakushuin University and the Nihon University College of Commerce, and was a guest researcher at the Waseda University Graduate School of Asia-Pacific Studies in Japan. He has doctorates in history and economics, and has also worked at the Shanghai Institutes for International Studies (SIIS).

Pedestrians walk in front of an electronic quotation board displaying share prices of the Tokyo Stock Exchange in Tokyo, Japan, on 6 January 2022. (Kazuhiro Nogi/AFP)

Can a sliding Japanese yen survive the Fed's interest rate hike?

The Japanese yen has been on a prolonged decline and is unlikely to see an upside given the Japanese central bank’s persistence with its ultra-loose monetary policy. As a result, Japan’s trade balance is worsening and the Japanese people are feeling the crunch as energy and consumer goods prices soar. Chinese academic Zang Shijun believes that the Japanese currency will face even more pressure of rapid depreciation as the US Federal Reserve raises interest rates.