dChan
Anonymous ID: fab706 Feb. 7, 2020, 8:47 a.m. No.8061602   🗄️.is 🔗kun   >>1790 >>2067 >>2185

Bank of Japan taps China hand to lead international division

 

Departure from Western focus comes at trying time for world's No. 2 economy.

TOKYO – When Bank of Japan Gov. Haruhiko Kuroda was asked by a lawmaker this week about the economic impact of the coronavirus outbreak sweeping through China, his reply acknowledged the increased importance of the economic superpower across the East China Sea. Compared with the severe acute respiratory syndrome, or SARS, outbreak of 2002 and 2003, "China's economic presence has grown much larger, and we need to be conscious of the possibility that the impact will be greater," he said. China's share of global gross domestic product has swelled from 4% then to 16% now, and the BOJ's appointment last month of its top China expert to lead the International Department shows that the central bank is keenly aware of the shift in the economic balance.

 

Leadership of the department, which handles analysis of overseas economic conditions and cooperation with other central banks, had been dominated by officials with experience in Western financial centers such as New York and London. But the post of director general is now occupied by Tomoyuki Fukumoto, a former chief of the BOJ's representative office in Beijing. "It's an appointment that's representative of an era when Asia's influence has strengthened," a senior bank official said. "It seems like a sign of a focus on China at the top."

 

After joining the BOJ in 1989, Fukumoto studied in Hong Kong and served at the Japanese Embassy in China before taking over the bank's Beijing office in 2012 for a three-year stint. Fukumoto delivers economic speeches in fluent Chinese. He also produces fine-grained analysis – backed up by what another senior BOJ official called a "staggering" amount of Chinese connections from his time on the ground there – that Kuroda and other top BOJ officials pay heed to. Beijing's growing economic importance is hardly a new development. But other China experts from the BOJ who could have filled the role have moved on to new pastures.

https://asia.nikkei.com/Economy/Bank-of-Japan-taps-China-hand-to-lead-international-division

Anonymous ID: fab706 Feb. 7, 2020, 9:30 a.m. No.8062166   🗄️.is 🔗kun

>>8062129

is was fairly obvious which one POTUS was on when he left Palm Beach earlier in the week-prior to speech. If we knew then it was easy for anyone else to deduce.