【环球财经】英国《经济学人》：高市早苗的经济政策将给日本带来麻烦

Core Viewpoint - The article discusses the detrimental combination of high inflation, yen depreciation, and rising bond yields in Japan, criticizing Prime Minister Fumio Kishida's outdated economic policies of significant spending and maintaining low interest rates [1][2]. Group 1: Economic Indicators - The yen has depreciated by 9% against the US dollar over the past six months and has reached its lowest level against the euro since its inception 27 years ago [1]. - The price of Japanese long-term government bonds has significantly declined, with the 30-year bond yield reaching its highest level since 1999 [1]. - Japan's budget deficit is projected to be approximately 1.3% of GDP this year, with a current inflation rate of about 3% helping to reduce the net debt-to-GDP ratio from 162% five years ago to 130% [1]. Group 2: Government Policy and Future Outlook - Kishida's supplementary budget plan amounts to 18.3 trillion yen (approximately 118 billion USD), which, despite its relatively low GDP proportion, sends negative signals to investors [1]. - The International Monetary Fund predicts that Japan's budget deficit as a percentage of GDP will rise to about 4.4% by 2030, driven by defense spending, aging population costs, and increasing bond yields [2]. - If market confidence in Japan wanes, it could lead to destructive capital flight, forcing the Bank of Japan to take action despite its reluctance to raise interest rates [2].