However, what I puzzle over is the impact on the BOVESPA of the reduced export competitiveness of the currency?
Elevated inflation also affects export competitiveness and limits the extent to which the central bank can cut interest rates to help stimulate the economy, Moody's said.
Prime Minister Shinzo Abe took office in December, vowing to boost the economy by restoring Japan's export competitiveness, while at the same time stimulating demand at home through higher public works spending.
Indeed, the turmoil is partly fueled by market expectations that Asian currencies pegged to the dollar will be devalued to preserve export competitiveness, given the greenback's strengthening in the past couple of years.
In fact, the real's devaluation could help maintain Asia's crucial export growth by slowing the recent strong appreciation of currencies such as the baht, the won and the yen, which could undermine export competitiveness.
In the US at a similar panel, questions regarding the affect of export laws on US competitiveness around the world are a hot topic.
With its currency pegged to the dollar, China has effectively safeguarded competitiveness for its major export market.
Despite a well diversified and large economy, a gradual loss of competitiveness has eroded its export-oriented industrial base.
"There has been an improvement in competitiveness and a very strong export performance, " he added.
"These include the rigidities in labour and services markets, and low levels of innovation, which continue to drive France's gradual but sustained loss of competitiveness and the gradual erosion of its export-oriented industrial base, " Moody's said.
Attempts to regulate or restrict the export of American biotechnology are likely to backfire and hurt American competitiveness.
America is such an important export market for both that neither would cope easily with such a loss of competitiveness.
Brookings says the clean economy is twice as export intensive as the national economy, which has a big impact on global competitiveness.
应用推荐