Financial news agency, June 21 (editor Malan) the yen is still "hard", which is undoubtedly a great blow to Japanese consumers and enterprises in the pain of inflation.

However, there are two sides to everything. The weak yen has set off the strong purchasing power of other currencies, which is undoubtedly a big bargain for foreigners.

According to data released by local research institutions, the price of 128G iPhone 13 in Japan is 98800 yen, equivalent to about 4900 yuan, but compared with the average price in other countries, the price in Japan is about 1300 yuan cheaper.

According to Apple's official website in China, the official price of the 128G iPhone 13 is 5999 yuan.

A Swede working in Japan said that recently he bought Apple products such as iPad pro and apple watch in succession in Apple stores in Japan because the price in Japan was obviously cheap.

According to the exchange rate conversion, the Swedish brother bought Apple goods in Japan, which was equivalent to a 75% discount for him. He would like to thank the Japanese government for helping him collect this wave of Apple wool.

According to Japanese media reports, Japanese Prime Minister Fumio Kishida and central bank governor tohiko Kuroda held talks on Monday. After the meeting, Kuroda said that he would pay close attention to the trend of foreign exchange, but the prime minister did not give special instructions.

Japanese media interpreted this as the tacit consent of the Japanese government to the Bank of Japan to continue to maintain its ultra loose monetary policy. As of Monday's close, the dollar had reached 135.15 against the yen, with a depreciation rate of 17% this year.

The attitude of the Bank of Japan shows that the weakness of the yen will be a trend, which is equivalent to sending a signal to foreigners with relatively strong currencies: buy!

In addition to iPhone, foreigners who hurried through Akihabara's streets recently also carried a variety of goods, and toys with Japanese characteristics such as handmade toys and LEGO are also popular goods.

A Mexican brother who now lives in Japan said that he would buy about 50 handmade items a day, and then send them back to Mexico to make a profit. A family from Iceland took out a large box of LEGO from their shopping bag, saying that it was luxurious to spend 22800 yen on it, while saying that Japan was too cheap.

American students took out their newly bought Apple Earphones and said: it's really cheap, and there's no need to worry about the rent. She also specially added: everything is so cheap.

From the perspective of the dollar and inflation, her words are correct and sad, which not only points out the weakness of the yen, but also implies that the inflation in the United States is worse than that in Japan.

Although at present, Chinese tourists are still unable to go to Japan in large numbers to "search for gold", some purchasing websites have been very excited recently, and have launched promotions by taking advantage of the weakness of the yen exchange rate. For example, a purchasing website declared, "the Japanese currency exchange rate has really fallen unstoppably recently, and cooperating with our various preferential activities is a good opportunity for overseas shopping!"

To stimulate foreign consumption, a key consideration for the Bank of Japan and the Japanese government to maintain ultra loose money and allow the yen to depreciate is to stimulate consumption and exports and stimulate economic growth.

It has to be said that it has indeed done a good job in stimulating the consumption of foreigners.

Koji Shibata, CEO of All Nippon Airways, previously said that the weak yen was an excellent opportunity for Japan's tourism industry.

Last week, the estimated data released by the National Tourism Administration of Japan showed that 147000 foreign tourists had been received in May, exceeding 100000 for two consecutive months. Since June 10, Japan has resumed receiving tourists from 98 countries and regions around the world.

The continuously falling yen and the open entry policy are attracting more foreign tourists. I don't know if tourists from other countries will have a different flavor when traveling to Japan with masks, but foreign tourists who shop in Japan must be very happy. If they operate properly, they can even achieve the achievement that the Japanese government subsidizes them to go to Japan to make money and travel by the way.

Swedish tourists can earn more than 2000 kroner by reselling only one iPhone 13. Isn't a 20% windfall worth a round-trip ticket to Japan?

A large number of Japanese goods are exported to foreign countries at low prices, which satisfies the shopping desire of foreign consumers and allows them to control their shopping within the budget at the same time. This may be a unique effect of Japan's ultra loose monetary policy on global consumers in the context of global inflation.

Inflation and exports, but for Japanese consumers, the original intention of the Bank of Japan monetary policy to stimulate consumption is unlikely to be realized.

Under the high inflation environment, ultra loose monetary policy is not only not conducive to improving the purchasing power of consumers, but also further strangle their consumption space. Especially when many industries in Japan rely on imported raw materials, the imported inflation brought by energy and food has brought about a sharp rise in costs, driving up the price of domestic necessities in Japan.

Tadashi Yanai, CEO of UNIQLO's parent company, fast retailing company, previously said that the depreciation of the yen is absolutely not beneficial, because most business models in Japan are to import raw materials from all over the world, process them for value-added resale, so the so-called advantage of depreciation will depend on the size of the company's import and export scale.

On the other hand, limited salary increases cannot offset price inflation, and Japanese consumers can only continue to have "low material desires" in their "minimalist" life.

The difficult situation facing the Bank of Japan is that if the easing policy is changed, the continuous "recession theory" after the interest rate hikes in Europe and the United States is a lesson from the past, but if it is not changed, the inflation rate will continue to rise, which will further oppress the living space of enterprises and Japanese consumers.

But for now, Kuroda doesn't think how terrible the exchange rate of 135 is, but expresses concern about rapid fluctuations. Perhaps, as Mr. yen eisuke Sakakibara said earlier, the dollar will fall to 150 against the yen this year, and until then, the Bank of Japan will not prevent the depreciation of the yen.

In this way, foreign men are not in a hurry to buy now. After all, there may be more room for arbitrage in the future. That is, Japanese people and enterprises need to be prepared for a protracted war on inflation.