尽管很多政府官员声称民众不必担心,中国还是应该无限期停止核电发展计划,并关闭靠近人口中心的现有核电站。(electrical car will have set-back, since Nuclear -powered grid will be the main infrastructure for EV. China is not good at conventional engine technology)
在某些情况下,这三次冲击也延迟了货币紧缩政策,增加了货币供应。日本央行可能会将重建费用的一大部分货币化。日本政府的债务已经达到了GDP的 225%。市场可能没有能力吸收如此巨大的日本政府债券增量。日本央行不得不吸收很大一部分才能稳定日本政府债券市场。如果日本政府债券利率上升,那么国债利率成本可能就会让日本政府破产。因此,日本央行必须通过购买来维持利率处于较低水平。 ( JGB are mainly held by domestic investors, backed up by surplus current account, consumer savings, and USD reserves. As long as domestic confidence is there, JGB yield will not sky-rocket. Instead they need some fiscal spending and inflation.)
当日本央行通过购买维持住了日本政府债券利率,无疑将会令日元贬值。日元需要迅速大幅贬值,事后再缓慢升值。日本政府债券投资人在日元贬值时没有时间做出反应,事后,因为日元升值将补偿低利率又没有动机抛售。(It's interesting that YCS stabilized at 15.4 for couple days and then increase steadily recently. Probably due to lack of JPY purchase and closing of JAPAN fiscal year at 3/31)