Japan PM's guru defends monetary 'independence'
WASHINGTON : An economic adviser to Japanese Prime Minister Shinzo Abe on Friday defended a policy of monetary "independence" as Tokyo fends off charges that it is manipulating the yen.
The yen's value has fallen sharply since Abe was elected in December, a depreciation that has come under scrutiny as finance ministers and central bankers from the Group of 20 major economies meet in Moscow.
Koichi Hamada, a Yale University professor who helped craft the premier's "Abenomics" philosophy, stood by his advocacy of "international monetary independence" in which top priorities include job growth -- not exchange rates. "Monetary policy should be assigned to its own price level, not the exchange rate, but the price level and unemployment, and then the world will be led to a kind of better state," Hamada said at the Peterson Institute for International Economics in Washington.
"Monetary policy of one country is assigned to its own country and not for others," he said, warning against the so-called "beggar thy neighbor" effect in which one nation's economic policy hurts other countries.
BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.
Date 23-02-14, Duration 1:43, Views 45476
Date 23-02-14 1:43
Tooltip Information:AAP's alliance with Cong. a suicide: BJPVideo by:Description: BJP leader Subramanian Swamy criticised the Aam Aadmi Party for taking support from the Congress. Swamy said that the AAP has committed suicide by opting for an alliance with the Congress.Rating: 3.26Views: 45476
Date 26-04-14 4:34
Tooltip Information:Ramdev says Rahul goes to Dalit houses for picnics, Cong. reactsVideo by:Description: Yoga guru Baba Ramdev made a shocking statement on Friday that Congress vice President Rahul Gandhi goes to Dalit houses for picnics and honeymoon. Ramdev who is supporting the BJP in the Elections 2014 made the objectionable comments during a press conference in Lucknow. He attacked Rahul Gandhi's 'single' status saying that Rahul wanted to marry a foreigner but was stopped by his mother Congress Chief Sonia Gandhi. He further went on to say that Sonia Gandhi asked Rahul not to get married until he becomes the prime minister. Meanwhile, the Congress party has condemned the statement.Rating: 4.52Views: 9996
Date 11-04-14 3:09
Tooltip Information:CNN-IBN and Microsoft Analytics Center for LS 2014 ElectionVideo by:Description: Largest technology brand Microsoft has joined hands with India’s biggest media Channel CNN-IBN to set up an elections analytics center to help decode the Indian electionsRating: 4Views: 3253
Date 10-04-14 0:55
Tooltip Information:Microsoft and CNN-IBN Join Hands to Analysis the LS 2014 Polls TrendsVideo by:Description: World's largest technology brand Microsoft has joined hands with India’s biggest media Channel CNN-IBN to analyse the Lok Sabha elections 2014 trends.Rating: 4Views: 2712
Date 13 hrs ago 3:49
Tooltip Information:Subrata Roy seeks Wi-Fi, conference room at Tihar JailVideo by:Description: The Supreme Court on Wednesday asked Sahara's lawyers and Tihar jail authorities to agree on a plan for conducting meeting of Subrata Roy and potential buyers of his hotels through video conferencing. The apex court will take up the matter again for hearing on August 1.Rating: 4Views: 20
Date 13 hrs ago 2:26
Tooltip Information:Heavy rains halt life in AhmedabadVideo by:Description: Heavy rains in Ahmedabad brought life to a standstill on Wednesday but cheered people up. The incessant rains that started a night ago clogged city roads, creating huge potholes in them. The rainwater also flooded roads outside Ahmedabad's airport and caused inconvenience to people. People blamed carelessness of local Municipal Corporation for the water-filled roads, uprooting of trees and power shortages. However, rainfall has come as a relief to people trying to cope up with the unbearable summers in India. According to the weather department, monsoon has reached over Gujarat and has lashed most parts of the state.Rating: 4Views: 72