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After the second quarter of 2020, Japan’s terms of trade — the price of imports versus exports — worse for nine quarters in a row. According to national accounts, import prices increased by 60.7 % during the same time period, while export prices decreased by only 26.7 percent.

The causes of this were dual in nature. The treatment of the world economy from the Covid – 19 pandemic and the supply shock brought on by Russia’s invasion of Ukraine both contributed to a surge in commodity prices.

The other reason was the depreciation of the yen as a result of Japan & nbsp’s loose monetary policy while the United States and Europe pursued tightening policies.

Japan’s national salary has been impacted by the worsening terms of trade. The amount of this income loss was 4.6 % of real gross national income ( GNI ). Since real GDP growth contributed 8.8 % to the real GNI growth rate during this time, investing losses weakened more than half of that factor.

At the same time, the rise in net earnings from abroad partially offset the trading loss. Real GNI increased by 3 % during that time due to the increase in interest charges internationally and the loss of the yen.

However, the Japanese economy has been severely impacted by the investing damage because it has recovered from the Covid-19 pandemic more slowly than other economies.

The rise in inflation, which caused the headline consumer price index ( CPI ) to peak at 4.3 % in January 2023, has particularly significantly deterred private consumption. It took until the first quarter of 2023 for the level of personal intake attained in 2020 to return.

Due to a lack of certainty regarding potential future growth, organization investment has likewise remained low. The core CPI, which excludes food and energy, remained below 2 % during the time due to weak domestic demand. Even when the economy experienced headline inflation rates that exceeded 4 %, the Bank of Japan was unable to alter its monetary policy position because its CPI target is 2 %.

Instead, the authorities took charge of fiscal policy to lessen the effects of the increase in commodity prices, particularly energy costs. & nbsp,

In order for wholesale fuel companies to cover their wholesale prices, subsidies were given to them starting in January 2022, and to electricity and city-gas companies beginning in December 2023. Value cover policies were chosen as emergency measures, even though the policies to anticipate rate increases could have been more focused and consistent with efforts to reduce electricity usage and greenhouse gas emissions.

The government also intervened in the foreign exchange market to support the yen in order to address the & nbsp, or depreciation of the currency. Since June 1998, the initiatives that were made in late 2022 were the first to help the yen.

Even though these expensive precautions were taken to protect Japan from outside shocks, the terms of trade did not begin to gradually improve until commodity prices suddenly peaked in the second quarter of 2022. & nbsp,

As of the second quarter of 2022, the total amount of cumulative trade gains from that time until the second quarter 2023 was 1.7 % of true GDP. In August 2023, the headline CPI inflation rate decreased to 3.2 % as a result of this.

The immediate position appears to have improved, but there are still a few issues. The yen began depreciating once more in May 2023 as a result of expectations that Japan’s economic policy would continue to vary from that of other economies, which partially offset the benefit of the decline in commodity prices.

Trends in the commodities industry can easily be reversed, and prices may increase once the global business regains its growth speed or if an external surprise occurs. These innovations will have a significant impact on the Japanese economy, which is highly dependent on trade and susceptible to changes in the global market.

And the long-overdue task of reshaping Japan’s business to improve its endurance has yet to be completed.

At the Japan Center for Economic Research, Jun Saito holds the title of Senior Research Fellow.

This andnbsp, post, and was originally published by East Asia Forum and are being reprinted with a Creative Commons license.

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May the decades-long effort to solve the UFO secret serve as a support for cutting-edge government testing and research initiatives for novel propulsion and craft designs? Furthermore, could the latest start of official government hearings portend a gradual disclosure of some of those abilities?

This incident merits consideration as the public’s interest in the investigation of UFOs grows.

The fascination with unidentified aerial phenomena ( UAPs ) and flying objects( UFOS ) has increased this year. The United States had been collecting non-human craft” for ages ,” according to David Grusch, a former intelligence official who oversaw the study of UAPs within the US government, who testified in front of Congress in July.

Individuals were questioned about the US government’s duty to inform the people about UFOs during the first Republican political debate on August 23. Additionally, the Pentagon debuted a new website on August 31 that offers the general public classified information about sightings.

After the 1947 Roswell incident, which resulted in what the US military initially referred to as a” flying disc” crash and later as being caused by weather balloon, mainstream intrigue surrounding UFOs was born.

Official government investigations into UFO / UAP reports, such as Project Blue Book, Project Sign, and Project Grudge, were launched to allay public apprehension and speculation. The US government was concerned that reports might overwhelm air warning systems, but it was also afraid of Russian attempts to increase fake sightings and spread conspiracy theories that might cause panic and raise suspicions of a coverup.

UFO information became frequent during the Cold War, frequently occurring at the same time as missile and rocket checks( a practice still practiced today ). A number of US and Russian military staff also testified that UFOs were able to partially seize command of nuclear and missile services.

standard misinformation

However, the US Central Intelligence Agency revealed in 1997 that the army had misled the public about numerous UFO sightings throughout the Cold War in order to hide its gloomy plans and keep Moscow in the dark about technological developments. The public’s mistrust of the government and its claims about UFOs / UAPs was fueled by blaming sightings of natural phenomena like ice crystals and temperature inversions.

Many covert military aircraft, like the U-2 reconnaissance plane, which was introduced in the 1950s and had a gray frame that usually reflected the sun, were often mistaken for UFOs. In the meantime, the SR-71″ Blackbird” entered services in 1966 and wasn’t declassified until the 1990s. It was frequently mistaken for a UFO due to its distinctive design, speed, and level features.

The B-2 Spirit, which was first introduced in the late 1980s, also had a distinctive aerodynamic design and frequently gave the impression that it was hovering due to its ability to manage raise, thrust, and pull at lower speeds.

Covert experimental military aircraft have been producing UFO reports ever since the Cold War. But conspiracy theories have also been fueled by unexpected occurrences.

US Navy pilots captured UFOs demonstrating rapid motion, physics-defying rapid changes in manner, and other feats in videos that were finally made public in 2017. The videos were filmed off the coastline of San Diego in November 2004. Navy planes and other US military personnel who have seen UFOs or UAPs have been reluctant to report them out of concern for scorn or specialized implications, despite the fact that the procedure has been formalized in 2019.

The need to safeguard classified technology is frequently cited as a reason for the US military’s reluctance to reveal UFO / UAP information. Defense organizations are unable to decide whether to confirm or deny the existence of such data.

However, the Navy rejected a Freedom of Information Act request from the government transparency website Black Vault for more UFO / UAP videos because it would compromise national security and” may provide adversaries valuable information regarding Department of Defense / navy operations, vulnerabilities, and / or capabilities.”

For a variety of tactical, social, and technological reasons, the US military may also be able to hint at its own fresh technological capabilities by making these videos available without any additional information. While only hinting at it may also deter adversaries, instantly disclosing these technologies could cause rising geopolitical tensions and elicit a response.

Equally crucial is gradually educating the public about emerging technologies, but encouraging rumors about UFO / UAPs may draw attention away from secret projects.

Military firms can learn more about their capabilities and risks in real-world situations by covertly testing empirical novel technologies on their own defenses without using lethal forces.

Numerous UFOs / UAPs were” technologies deployed by China, Russia, another nation, or a non-governmental entity ,” according to an intelligence agency report from the DoD in 2021. Time before an updated edition was made available to Congress in 2022, The New York Times broke the story.

The Warzone is still looking into the matter, but it appears that the US government has been ignoring a sizable amount of angry robots that have been mistaken for UFOs or UAPs up until recently.

It would also show flaws in US air defense systems if it were impossible to properly identify another country’s experimental aircraft by labeling it a UFO / UAP. Similar to this, releasing records of US monitoring of other nations’ secrecy aircraft and other technology would inform these nations that US military capabilities were being monitored.

Business engagement

Companies are also in charge of producing a sizable number of UFO / UAP reports, in addition to those from other nations.

The second drones were produced in the UK and the US more than a century ago, and since then, the private sector’s features have significantly increased.

Professional aircraft identification has become more challenging thanks to camouflage systems, and in 2022 alone, hundreds of drones made by DJI, the largest drone manufacturer in China, were reported to have entered restricted aircraft in Washington. Professional drones can also be bought and used by other governments, of course.

However, the US government and other organizations are responsible for many of the technological advancements in superior aircraft.

With successful tests carried out in the late 1990s, the National Aeronautics and Space Administration( NASA) has expanded on concepts developed by scientist and engineer Arthur Kantrowitz to use lasers to launch satellites without fuel or an engine since the 1970s.

In the twenty-first century, both NASA and the US Air Force have continued to advance this technology, and NASA has also looked into plasma propulsion, which may have been the subject of numerous UFO / UAP reports.

With the creation of laser-induced blood technology, which was patented in 2018, the US Navy has advanced the limitations of technology. With the help of this development, it is possible to simulate aircraft performing seemingly impossible maneuvers while also producing plasma that can be used to create complex shapes and vivid optical illusions.

Additionally, the US military has improved its ability to generate sound from lasers, which would give UFO / UAP sightings a further layer of realism.

Salvatore Cezar Pais, an aerospace engineer and scientist who has worked for the US Navy and US Naval Air Warfare Center Aircraft Division( NAWCAD ), has also drawn more and more attention to projects over the past few years.

His purported innovations in propulsion and energy generation may rank among the most revolutionary technological advancements in history, despite the lack of empirical evidence and strenuous, peer-reviewed scientific scrutiny.

The development of sophisticated propulsion systems, which could potentially result in fast thrust technology and an abundance of fresh energy generation, is the subject of Pais’ patents with the US Navy. This includes a” craft using an inertial mass reduction device ,” which was patented in 2018, as well as what appears to be an abandoned patent for” plasma compression fusion device.”

The Air Force, NASA, and the Defense Advanced Research Projects Agency( DARPA ) are all taking his inventions into consideration, according to documents obtained by The Warzone through the US Freedom of Information Act.

Of course, Pais’ patents could be intended to lure opponents into a costly arms race, much like the late US president Ronald Reagan’s proposed” Star Wars” missile defense system in the 1980s. That is not to suggest, however, that these nations haven’t previously started working on intriguing projects.

In recent years, China has significantly increased its development of plasma technology. In addition, it is working with the UK, Germany, and Japan to develop Active Flow Control ( AFC ) technology to enhance aircraft aerodynamic performance. Recent developments in plasma propulsion technology have also been made by European organizations, which may increase UFO / UAP reports across the continent.

In light of these developments, it is still essential for the general public to remain informed and engaged about UFOs / UAP because the more widely the evidence is observed, the harder it will be to manipulate. We should continue to be wary of the organizations creating stories about extraplanetary brilliant life given the history of authorities audacity in creating social and war propaganda.

It is crucial to move away from stigmatizing and embrace a public approach to UFOs / UAP, both domestically and abroad.

Activities like the open-data Galileo Project, led by Avi Loeb of Harvard University’s Astronomy Department, are constantly looking for signs of interplanetary life and advancing our knowledge of place in addition to the Black Vault.

We may close knowledge gaps and move closer to demystifying these events by involving the public in the search for solutions.

Globetrotter created this content and gave it to Asia Times.

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