Author: 诚 诚 p

Source: Nikkei Chinese Network

The Election of the President of the Liberal Democratic Party, who decided to decide to be a successor of Abe, was held on September 14. The chief of the official house, Tan Yiwei, occupied the advantage, and the stock market was gradually identifying the expectations of the birth of the Sugiwei regime.

Of course it is the stock price, stupid!Using the style of the US presidential election to describe the policy of Yiyi Wei, it can be summarized as this sentence.In his speech, he based on the rise in stock prices, he created employment positions, etc., emphasizing that he would take responsibility and inherit Abe's economics.The most powerful candidate for the next Prime Minister regards the stock price as its own score. It is one of the reasons why the US stock market is still stable when the US stock market has begun to decline.

But the situation is not optimistic.Currency loose RARR; the yen depreciates RARR; the engine of the rising stock price has lost its previous glory.Foreign investors account for 60 % of the Japanese stock market transactions. In their opinion, the Japanese stock market has not risen.If the former Prime Minister Noda Nonahiko of Japan proposed to dissolve the House of Representatives November 14, 2012 as the starting point of Abe's economics, the average stock price index of the Nikkei rose 2.7 times, and the increase exceeded the United States.Times.Below the United States, the gap with Germany and China has also narrowed.

In the 7 years and 8 months of Abe's governance, the stock price rose as a life -saving device to support the adverse situation.If the next Japanese Prime Minister wants to stabilize the regime through the stock price, it can only take shortcuts.The stock price of enterprises has risen, household asset benefits, and promoting consumption. This method is not just on the menu of Abe's economics.

The first is an enterprise.When asking the weaknesses of the Japanese economy, investors will answer low production efficiency in eighty or nine.In other words, the profit margin of the enterprise is low.

The key to rolling the soil lies in the reform of Tokyo companies that account for more than half of the listed companies.Data from Nikkei NEEDS show that the gross profit margin of the 2019 companies in Tokyo is 24 %, which is far inferior to 33 % of Kyoto companies.In terms of total market value, in Abe's economics stock market, Kyoto companies have increased to four times, while Tokyo companies are only 2.4 times.

In the past, I once pointed out that one of the reasons for the low profit margin of Tokyo's enterprises was Xiaguan cost (translator's note: Xiaguan is the place where the Central Provincial Office of the Central Committee of Japan), that is, to deal with the government's cost.Typical representatives are paper and seal culture that government agencies forced enterprises.According to data from the United Nations Food and Agricultural Organization (FAO), the consumption of Japanese office paper (printing high -quality paper) in 2018 is 23 tons of 1,000 people, ranking 6th among 161 countries and regions surveyed.Great country.

Supu Yiyi and others who advocate the establishment of the digital hall also aim to overcome the weaknesses exposed in the new crown epidemic.Even so, in terms of investor's eyes, related measures are still not enough.Only when the enterprise reflected by the root -removed paper culture relies on the government's atmosphere can the reform feel the reform.

In the 30 years of lost in the Pingcheng era in Japan, electricity, banking and infrastructure were dragging down the stock market.These industries are industries that have been protected and benefited from public undertakings.The pressure of the government's reform is effective. A few days ago, Yiyi Wei said that there were too many local banks, which aroused the market's expectations of bank reorganization, which caused the stock price of local banks to skyrocket, which shows it.These three industries have been abandoned by the market because they depend on the government too much because they are too dependent on the government.

Followed by family economy.To allow more than 18 million yen in investment in the stock market, it is necessary to have a declaration of getting rid of the tightness of the pass.Although the new crisis crisis has caused concerns about the tightness of the currency, in the campaign speeches on the 8th, no candidate candidate showed that it was determined to get rid of the tightness of the pass.In the case of currency tightening, deposit money is more favorable than investing in price, so funds will not flow into the stock market.

And Japan does not have enough high -quality financial products to allow families to buy.There is a embarrassing thing in Japan.The Economic Cooperation and Development Organization (OECD) announced the results of the financial knowledge survey of the people of major countries in 2017.

The scores of decentralized investment in Japan are lower than the average.The Japanese cannot answer that the stock market investment trust is safer than investing in 1 stock.However, some analysts believe that the Japanese do not have a good impression of the stock market investment trust, so it is reasonable to make such an answer.

Nomura Japan's Strategic Fund was raised shortly after the establishment of 2000 to reach 1 trillion yen, which made Japan's investment culture show a development trend. However, due to the sluggish management performance, the amount of redemption increased, and now only 50 billion yen.The Financial Department has just put forward the reform policy of the asset management industry.If the tiger and snake tail like the financial change in the late 1990s, it will cause trouble.

The next Japanese Prime Minister is lucky.After the world economy has improved from the trough, it took over the relay stick, and the great American investor Voron Middot; Buffett has made up his mind to buy a large number of stocks in Japan.

The US stock market gives people a feeling of overheating, and relevant people in the US market are looking forward to the Japanese stock market that after the changes in Japanese politics and corporate operations, the Japanese stock market's low valuation will be corrected.The US investment magazine Barrons said that the sunrise was welcomed, and it took the opportunity to introduce leading stocks such as Dajin Industry, Keyence, and Mutian.

However, as the US aviation stocks were sold in the spring of this year, Buffett's cleverness was that if the investment premise changed, it would be relentlessly thrown.In that case, it will cause a heavy blow to all Japanese stock markets.

In order to get Buffett's trust, consider Abe's economics.Many related people are studying a case that the Hong Kong government has created ETF (transaction open index funds) with stocks purchased by the market in the late 1990s and sold it in an orderly manner to investors.Many people criticize the purchase of ETFs in large quantities of banks that lead to distortion of stock prices, and the expectations of the market in the market have gradually increased.

Shi Po Mao proposed the concept of rotten and reorganization.If Supu Yiwei is too obsessed with inheriting Abe's economics, he will repeat the mistakes of the Japanese president who cannot cope with the bubble economic collapse due to disgust.Goodbye, Abe Economics, the market is looking forward to the fresh policy that can say this sentence.