As American... Okay Nevermind, disagree with two points. I rather be in poor in Japan than poor in America.😂 In America, there is no 200Y JR TRAIN. You can't afford car? You don't get hired. You don't get hired, you start doing drugs. The poverty spiral is swifter in America, just see our cities.
It depends on where you live. Cities like New York have a robust mass transit, though the subways are more dangerous than Japan's. You have less need for a car there. As for owning a car, you can buy a used car beater for around $1,000-$5000 in the U.S, and from what I've seen, buying a car and maintaining it with the government regulations involved is much more difficult in Japan, including rural areas of Japan, which does have a robust car culture. As for being poor in Japan vs the U.S., it depends on what you mean by poor. Except for the homeless, we have no poverty in the U.S., and our poor generally have government subsidized housing of some type, and there is definitely food available even for our homeless. And the reason our homeless problem is so intractable, is we don't force the mentally ill into asylums. I don't know for sure, but I suspect that Tokyo law enforcement don't treat their homeless with the same civil liberty protections we do. And I'm not criticizing the Japanese if that's the case.
@@alsparks20 Not really. The U.S. is massive, and the number of cities with a "robust mass transit" system is insignificant compared to the size of the country. Even those mass transit systems that do exist in the U.S. are often outdated and underfunded. Buying a beater car doesn’t magically negate the considerably expensive maintenance costs that come with it. We don’t have poverty in the U.S.? What in the… What bubble are you living in? According to U.S. government statistics, roughly 11% of the population lives in poverty-that’s about 37 million people as of the most recent data. Saying they “generally” have government-subsidized housing of some sort is laughable at best. There are children who go hungry at school, and you think homeless people definitely have food available? Man, you are seriously breathing some major copium here. “Tokyo law enforcement”? What does that even mean? For one, Tokyo is not all of Japan. Just like in the U.S., every state and every city has its own laws and regulations. Japan is no different-every prefecture and city has its own set of rules. You’ve been making very broad and sweeping statements about the U.S. as a whole when, in fact, every state and city is entirely different.
@@starship8088 I wondered if someone would bring up the 11% "living in poverty" trope. So that 11% poverty rate statistic is calculated based on income made BEFORE social benefits are applied. After social welfare benefits are applied, poverty in the U.S. becomes negligible for people not living in the street. And to me, if you are able to eat, and able to get shelter if you are willing to apply for it, that's not poverty. It's still poor, but not poverty. Show me anyone living in the streets in the U.S. who isn't mentally ill, a drug addict, or just plain stubborn and wants to live that way, and I think you'll have a hard time. Of a population of 330+ million people, you'll find someone, but I doubt that it won't add up to more than 1% of the population, and probably half that.
I recently moved to the Matsumoto area after retiring from my career in the US The standard of LIFE in Japan is simply miles ahead of what the average person can have in the USA Making $100k is pointless when your house payment is $3500 per month and your medical deductible is $18,000 per year. Not to mention the cultural bankruptcy of our top American cities, which are rife with homeless drug addicts and thugs. Averaging American economic results never gives a true picture because the outliers (the 1%) have so much of the total wealth. Also, lets talk about personal perceptions of safety… Want to enjoy a safe night walk in an American city? Good luck.
Income does not tell the whole story. Cost of living must always be taken into account. Stuff like healthcare is something that breaks the wealth done fast.
I know, right ? Always hate it when people just skimped that out whenever talking about japan's salary is "low". Cost of living between nations aren't exact 1:1, even among first world nations. I often dive into Tokyo Metropolitan Government online archive since they keep all the census data there, there is data about median monthly household expense that show median households only spent about 15-20% of all expense on rent. On another first worlds, rent easily make up more than 30%.
Not to wish Japan any harm, but as a foreigner I did take advantage of the weak Yen. Just yesterday, I bought something on Amazon Japan and I got about $20 off which was great because it nearly offset the entire cost of global shipping!
I just bought ASICS running shoes, maybe 40% cheaper here but it sells out super fast because ASICS can make more money in the US and sells more there. You can’t even find the ASICS SUPERBLAST shoe because they can sell for $200 in the US and not for ¥30,000 in Japan, impossible. It’s one example of why JP companies need to focus outside JP.
In 2018 my wife got really ill at Jigokudani Snow Monkey Park.They had to call 911 and rescue her with a stretcher and 5 medical personel off the mountain. Yes, we were a mile from the parking lot to get to the ambulance. Then another 30 minute ride to a hospital in town. I had no clue where we were at. They had to call the resort we were staying at and let them know the situation. We were at the emergency room all day into early evening as they tried to get in tube in her arm. They never did. Anyway, it didn’t cost us anything for the 911 or hospital. The only thing we had to pay for was the medication they gave my wife. We were told if your a tourist in Japan that 911 was free.
Well of foreigners moving to Japan in any real numbers is maybe a little unrealistic. The routes are what, setting up a business, working for a local or international company, student visas, marrying a local or its short term visas or doing a tourist visa run every 90 days? If you are somewhat wealthy the business route (I think PewDiePie went this route) gives them the most flexibility and they can hire people to deal with paperwork. But these types of people aren't looking to live in remote towns and villages. They might buy a place near a ski resort, but they aren't living there. It ends up driving up property prices, driving out locals and killing communities.
FWIW we visited Hawaii in October and my Japanese wife saw so many Japanese tourists there including local residents it was like being back in Japan! Japanese food there also tasted very authentic except for the very high prices 🍍 🌊
I don't see why Japanese want to go to Hawaii when they have Okinawa, Kerama islands, and Ishigaki, just as nice and cheaper. one correction Musk is worth about $500 billion not almost a billion, maybe you meant trillion
Terrible inflation adjusted salaries in Japan while weak yen made some prices for imported items go up = less savings = less spending on luxury such as travel to Hawaii etc.
Another variable that needs to be considered is that the basic cost of living in Japan hasn't gone up much over the last 10 or even 20 years. Rent, food, services, costs all have been fairly flat. Whereas in the US they have gone way up. Housing prices in the US, especially on the coasts are dramatically higher than 10 years ago. Also look at health care costs, they are insane in the US. I agree with previous commenters, the standard of life for poor and middle class in Japan can be better than in the US.
This isn't a hot take at all, but people like Elon Musk make America (and by extension the greater world) a much worse place to live in, mostly just due to how absurdly wealthy he is. America is the mostly wealthy country on Earth but that isn't really reflected by most of the population. Our world economic system works for rich people and capital owners, that's the problem.
Capitalism. It is the system, he is a symbol of America. His innovations have bettered America, no? If not, he wouldn’t be so rich. Tell me a country where a nobody can become a billionaire? It’s much easier in the USA. If you work hard, you can get ahead. He’s not old money. How about that? Inherited super wealth, people who are on another level in the shadows? Anyhow, if we look at wealth of Americans in the 1970s and now today, people live much better. But the US food supply, the corruption, the marketing … it’s in real need of change more than anything else. The potential of the US economy is by far the greatest in the world right now. They have the population, the world’s talent, a system that rewards innovation etc.
@onlyinjapanGO The thing is man, he wasn't a nobody. He came from a very wealthy family, which gave him a huge advantage most people don't have access to. I wouldn't say he has helped America in regards to his so-called innovations. For example, I think the goal of Tesla making electric vehicles a normal everyday thing is great, but he has nothing to do with that, I'd point to the engineers actually creating all of this. If anything, he has hurt Tesla immensely with his management and projects like the Cybertruck (which ended up being a very dangerous vehicle due to build quality and the self-driving AI). We have this idea of the mythical great man who is self-made and independent. The American dream tells us we can all make it someday, that we're all just temporarily embarrassed billionaires. We're told if we keep working our butts off, one day we too can become an Elon Musk. It's a nice thought, but I'd point to the disparity of wealth with the general population, Japan included, in relation to how wealthy rich people actually are and have been for decades.
@onlyinjapanGO with all due respect, you may want to find new information sources on Musk and his effect on the average American. Look into his Hyperloop "innovation", for example, which he deliberately used to derail high speed rail initiatives in the US. I love the trains in Japan, and a US version in select places here would be life changing. But as long as people like Musk have their money in politicians pockets, even minor rail investment is never going to happen.
Ya super ignorant comment. Elon is a godsend wish Elon built a factory in Japan and helped Japan’s government to wake the F up We need Elon to poss bring Tesla battery pack factory to Japan !! We need an Elon musk of Japan !!
@@GreyGiger Musk gave work to the engineers, so he created more jobs for people and continues to do so. He also took the financial risk, by starting businesses. Also the ideas for his inventions are his own, so it's not like he didn't do anything.
We’ve just arrived back from Japan after visiting our Sons . We all caught COVID. My wife went to the local Hospital in Utsunomiya . The treatment,quality of care and the way she was dealt with was amazing. She was seen straight away,put on a ward and hooked up to a drip to replenish her fluids has she hadn’t ate or drank much for several days. She was also found to have a water infection. They have her a print out of all the test results and relevant drugs. They went to the hospital at 8am and were back at 2pm. ***You wouldn’t get this service in the UK National health system or even private medical care☝️. Excellent well done Japan.🙌 Total cost £130.00 Amazzzzing.
The ambulance does this, other types - they search all types. What’s your suggestion? If you google this, it happens all over the country, not just here. People die in the ambulance waiting for admittance 😢
@@onlyinjapanGO I'm suggesting finding a local health center, get checkups so they are familiar with you guys, then if ambulances are that much of an issue, you can go to the center in some cases (depends on hours) and they'll know if they need to administer help right away or if you need a hospital. It's to give you some options. For example I have a primary care center only 4 miles away that is staffed with some doctors.
My wife and I were in Japan when the US dollar was super strong (1 USD = 160 JPY!), and we refilled our mobile ic cards (icoca etc) with the maximum amount.
I hope Japan doesn’t lose what they have which a unique and great culture. Sadly in a lot of major tourist destinations over-tourism ends up making places unliveable for the incumbent communities. Crime rises, rent and property prices increase.
Japan is doing well with contraction, the endless expansion economic theory is unsustainable. The system must be ok with less. They also need to limit tourist numbers because the locals are getting tired of people who don't care and Japan needs to stay Japan otherwise it looses what makes it wonderful.
But i think tourism is the blood of japan economy. Without it I don't think japan can thrive. Their industry is not what it used to be. With ev, their car is going down trend. Electronics is gone. So I think nowadays tourism account for a significant portion of their economy.
Have you seen this inflation drastically affect certain industries like healthcare, real estate, or construction? Has rent increased and construction of new buildings slow down? Have Japan residents noticed having to pay more for certain medicines and medical services?
Inflation is happening but not at the same level as abroad but without rising wages, we feel it as bad. It is hitting industries. Because the yen is so weak, buying anything from abroad is so expensive but they can’t pass the cost on as easily because people will stop buying. Like eating out, people doing it less. US beef is pricey for Yoshinoya. Impacts their cheap lunches.
@onlyinjapanGO I’m going there around Golden Week for the World Expo in Osaka and I just got to the part of your video talking about how more Japanese people will be domestic tourists than international tourists due to the weak yen so wondering if trains and certain hot spots throughout the country will be experiencing issues with over tourism than what’s currently happening. Will be interesting and hopefully the yen stabilizes. On the other side, I buy old film cameras for personal use and projects and usually get them from Japan due to the care and customer service from a lot of Japanese sellers, but I have noticed the prices for camera have increased 2-5x what they they were listed for pre-COVID. Do you think the weak yen is partly the reason for price increases in the resale market when ordering items from Japan?
One last comment, and that's the amount of Japanese tourists traveling overseas. I live in Fairbanks, Alaska, and we used to have a lot of Japanese come here in the winter to watch the Aurora Borealis. The slide of the Japanese Yen against the U.S. Dollar occurred pre-covid, and at that point we began seeing a lot of Chinese tourists, again pre-Covid. I don't work in the tourist industry here, but I have been told by those who do that the Japanese were more polite and easier to deal with than the Chinese. American tourists have, for decades, had a bad reputation, at least in Europe, being called "ugly Americans." It seems the Chinese have a similar reputation here and in Japan.
Retro stereo equipment like power Amps, receivers, turntables etc have become popular again and demand a high price. Sony, Onkyo (if still exists), and Yamaha, should put out some new lines of high end home stereo equipment with 100-240V capability. I'd be a buyer, specially of the Onkyo stuff, loved that equipment
Earlier in the year 1 Great British Pound was 204 Yen and is currently 196 yen trending upwards...I actually agree John Tourism 2030 is almost here. What concerns me is the heart of the Japanese when it comes.
Heart is strong, but if people who come here can’t accept the societal pressures that make things work well, I can see increased issues. It’s because Japanese don’t have families because the things I talked about … it’s just not something people want to do. As a new father, I get why. But who’s going to live in the new mega condos going up all over Tokyo? The declining Japanese population? It’s curious. I guess Tokyo is the exception. The skyline is getting taller very very quickly.
Japanese companies not raising salary maybe because the turnover staff is low because in Japan culture is to work at one company until old mostly,thus competitiveness drop as well. Usually you need staff turnover so you can recruit talented new staff to help grow the company and those new staff also ask for higher pay. Surprisingly Japan unemployment Rate is low at 2.5%. finding new talented staff should be a challenge without paying good salary. Just weird 😅
It really is an amazing story, democratic city-state that is so well positioned for business, highly educated population, good schools … one of the best airports in the world, delicious food - had to add that.
Just indicators and trends. Show me the opposite and the trends that aren’t going in this direction … Americans often don’t realize how positive the economy can and does look going forward although stuff always happen, trend lines tell a story.
@@onlyinjapanGO I AGREE with you that the current Japanese economic situation is not that fantastic but I am confident Japan will be on the right track. Japan will be OK ! Anyway, the exchange rates alone do not truly reflect the full story of the yen's value or Japan's economic health. While exchange rates are valuable indicators of SHORT-TERM market sentiment and international competitiveness, they do not fully capture the structural, domestic, and long-term dynamics of the yen or Japan’s economy. The yen’s current weakness might seem "exaggerated" IF analyzed only through short-term trends, especially when considering Japan’s strengths like its high savings rate, technological prowess, and stable economy. A holistic approach that incorporates exchange rates, PPP, REER (Real Effective Exchange Rates) and structural factors offers a fairer, more comprehensive assessment.
@@onlyinjapanGO Exchange rates alone do not reflect the full story of the yen's value or Japan's overall economic health. While exchange rates are valuable indicators of SHORT-TERM market sentiment and international competitiveness, they DON'T fully capture the structural, domestic, and long-term dynamics of the yen or Japan’s economy. The yen’s current weakness might seem exaggerated IF analyzed ONLY through short-term trends, especially when considering Japan’s core strengths like its high savings rate, technological prowess, and stable economy. Even Singapore is doing better than the US on the Per Capital basis today. Singapore should be used as the benchmark for economic revitalization for JAPAN.... Not the US!
@neubro1448 Good points. Using holistic metrics like the ones that you mentioned combined with critical factors such as property ownerships, ready access to social benefits, savings rates may provide a more nuanced & clearer picture of wealth situations in Japan (e.g. Using the Big Mac Index to measure PPP in Japan vs the US or Switzerland reflects Japanese Yen's reduced international purchasing power). Japan's relatively low minimum wage in global terms shows that wealth & income distribution are very pressing issues that must be addressed!
You mentioned growing your channel, I noticed you haven't recently done too many joint videos with other creators like Tokidoki Traveller, Tokyo Creative or Tokyo Portfolio. Also Chris Broad recently started putting ads directly into his videos so he's probably looking for new ways to promote.
The Netherlands might be doing okay economically, but people aren’t happy. Rising living costs are making it harder to get by, even with higher salaries, and civil unrest is growing. On top of that, there’s more hate towards migrants, Muslims, and non-Caucasian groups, which is tearing society apart. Meanwhile, in Japan, even with the yen struggling, life feels more manageable. Healthcare is affordable, public transport is top-notch, and there’s less income inequality. Plus, the focus on community harmony helps keep things calmer compared to the growing tensions in the Netherlands.
When you’re talking about “saving the economy” with stimulus packages, you’re not winning. Stimulus is in the wrong places … it’s propping up failure without fixing the problems causing it! To save the economy, there needs to be confidence and I don’t feel it inside Japan. Ishiba-san is not projecting it as a leader either … not yet anyway.
Japan is definitely declining. But also England, Germany, France and Canada have become poorer and poorer. Canada per capita worse than Mississipi the poorest state. Overall USA is on another level.
Japan will become poorer overall and increasingly a less relevant country economically. It will probably end up like a European country reliant on tourism.
A declining population with no hope to increase. Canada took in millions in illegal and refugee migrants the last several Trudeau years. Canada is resource rich. Use it! Ive been shocked at how poorly Canada is doing. Should be as rich as Norway 🇳🇴
Disagree with one point. USA having buttloads of billionaires isn't good thing for avg Americans... You know what other country has lots of billionaires? Russia...
United States - 975 billionaires China - 514 billionaires Germany - 176 billionaires India - 166 billionaires United Kingdom - 120 billionaires Switzerland - 111 billionaires Russia - 107 billionaires Saudi Arabia - 71 billionaires
You should run for Parliament and work to be the PM. As far as life in Japan, Americans may make twice the Japanese but everything here is more than twice as expensive. Plus the crime rates numerous illegals and cost of living, life is better in Japan. My son lives there and I keep telling him to stay there.
Just need to tax those tourists higher. Glad that Himeiiji is already starting this next year. Japan is way to cheap for the masses of tourists. More expensive also helps weed out those plebs who can barely afford it.
Weaken currency is also good for exports, which could lead to higher oversea sales, which could also lead to higher tax revenue for JP government. I honestly don't see what's the problem ? During 60-70s, JP economy was at its highest and yen at the time was ¥300-330 to the dollar. It wasn't until Plaza Accord that yen became "stronger" which led to the bubble. A nation whose economy very depended on its export of manufactured goods, such as Japan, will always be hurt by strengthening currency.
Yes, I mention why SONY doesn’t like the JP market. Overseas sales have always been better for them. More biz needs to look to expansion. Now. But it’s too late for many groups. The rot inside makes big corps sluggish and cannot compete well. Japan Inc though is a strong brand and we’ll see how this plays out. 2030 is just 5 years away!
Hawaii is 1 of the most expensive places to go on holiday to. It's keeping a lot of people from going there. Not just the Japanese. I don't get the title, what you mean with tourists will rule japan? Overall, i think living in japan is still a lot better then living in usa. safer, cleaner and more constant.
im so agree with u.. japan need to raise the rates no matter what.. billionare are abusing it and took advantages of it.. that is why when japan tried to raise the rates on july.. all stocks market in the world went drastically down.. please make a move japan😭
Risk aversion is an issue. But they have wanted inflation for decades and have it now, they don’t want to lose it! But if wages do not increase, it’s pointless. There’s sure to be more political pressure for biz to increase wages but the risk to corporations esp domestic ones is real, they feel it’s risky to raise it. So something has to give.
Please do the Toyota hydrogen car rental. Very interested! I am holding off buying a pure lithium battery based EV for exactly the reason you mentioned.
As for the Japanese economy, what worries me most is the stifling effect of Japanese corporate culture and its resistance to change / creativity. Japan while brilliant in engineering and manufacturing, missed out on the software revolution: "software is eating the world" and perhaps now "AI is eating the world". Japan has nothing significant to show in either category. Japan's biggest export, autos, may also be doomed in that the world is moving towards EVs, which have a much lower barrier to entry (no combustion engine R&D required for example) - hence China is poised to dominate here. Tough times ahead for Japan. I hope that gov sponsored innovation in chip fabs, etc. will revitalize certain areas of the industry.
Resistance to change vs risk aversion Canon camera company … they never take risks. They’ll handicap their cameras who they know that will have something new next year. China unleashes the beast! It’s a beautiful thing to see 😝 the risk and reward, the ability to change fast. Hard to see Japan competing with that, with China. But it’s a long road and China has some issues with demographics, very bad ones.
What makes you think the USD will stay the same.. once the USD reserve status collapses you will find the opposite will happen.. Japan will go back to being part of the Asian fold politically speaking and not be the lapdog status to a bankrupt empire that it currently is.. that day is around the corner.. same goes with Korean..
Yeah, that’s always it, right? As a foreigner living here, I don’t feel the excruciating societal pressure. Japanese don’t get that living abroad. It’s that pressure that keeps Japan so nice too. Would foreigners moving here adhere to that pressure to do the right thing? 🤔 how will it change Japan? It’s a wonder …
Hey John, when I first came to the US, a dollar was 270 yen in 1980. It’s been a while, but if you consider PPP(Purchase Price Parity), it can’t be as bad as the US. Cheer up, John, and make more kids!!! 😁👍
Remember the enemy is not inflation. Inflation means the economy is growing. That also means increasing wages. What we should be worrying about is companies gouging us with their high prices with record profits. And part of that is keeping wages low so the companies and shareholders can keep the money to themselves. The enemy is the entities and people hoarding the money. Not inflation, not increasing wages.
@@MartianAmbassador69Maybe. But you’re at risk of deflation, i.e Japan right now. And again, inflation is still not the enemy. At the end of the day people struggle because the cost of living is outpacing wages. Companies are using inflation as an excuse to raise prices but also finding ways to not raise wages. If the money goes back down to the people, or trickle down, then that’s fine. The problem here is the money is being hoarded up. The money people are spending are not going back to people. People get shafted by the worst of inflation without getting the benefit of it.
@@leandrowngo nobody is hoarding money. That's literally the worst thing you can do in an inflationary environment because inflation will eat away at the savings. And again, if companies increase wages, they'll have to increase prices. Both of which will cause further inflation.
Their min wage has been prety low for a long time, and rent has been increasing/cost of living. Just because these type of conservative cultures are less likely to protest or unionize or ask for a living wage;,, they should be allowed a better living wage; its why they don't date or marry anymore, its why the birth decline. Thats the problem with conservatism, they are more likely to fall for dictatorships/and ideologies which people dont like. Soon their "nationalists" will get angry and win politics and boot out foreigners, once they start seeing a large spike of "immigrants", as those immigrants are mainly there for low wage jobs and to devalue wages even further, just like every western capitalist playbook.
"pro business?" Trump has promised across the board tariffs on goods imported from China, Mexico, and Canada. What about that will strengthen the US economy? It will (according to estimates from leading economists) increase inflation even further, increasing the costs of everyday goods, and add billions of dollars of extra expenses for American businesses.
The assertion that tariffs will bring down the national debt, force manufacturing back to the U.S., decrease inflation, and harm foreign countries requires a nuanced examination of economic principles and empirical evidence. In summary, while tariffs might have some of the intended effects like increasing government revenue or protecting certain industries, the broader economic implications, including their impact on inflation, national debt, and international trade relations, are complex and often counterproductive to some of the goals outlined in your statement. The actual outcomes depend on numerous factors including the scale of tariffs, the response of foreign governments, and the adaptability of domestic industries.
The average American has it pretty bad in nearly every metric. I just moved to Japan from Los Angeles, and I am relatively well-off running my own business. The quality of life in Japan is far superior on average than in the USA. America is a corporate dictatorship with an oligarchy of corporate executives. Things are very bad. If business climate is your primary concern (as opposed to actual climate), there may only be a short-term boost in America. The strength of the American economy has a lot to do with economic problems globally, not simply because of the objective quality of the US economy. Economic life is brutal in America: Credit card debt, car dependency, rampant homelessness and poverty in the midst of wealth, medical debt (or extremely high medical expenses), childcare expenses, the ever-present threat of school shootings/mass shootings, declining life expectancy and poorer health into old age relative to similarly developed countries, and the cost of living overall with low access to high quality food and recreation that doesn't come with a high price tag. It's pay-to-play in America all day. If you're not rich, enjoy the crumbs that fall off the table. When GDP isn't used as the only metric of economic health, we can see Japan's "qualitative wealth:" excellent infrastructure and the world's best train system, a rich and deep cultural and historical legacy in the world of food and crafts, general safety and security in public spaces, access to green space from parks to temples and shrines, unique hospitality in the form of ryokan, incredible recreation from hot springs to accessible winter sports. There is so much happening in Japan and you don't have to be rich to enjoy it all. I'd be curious to see how the other top GDP countries measure up to this, as I'm sure this cannot be said of many other places in the world, let alone God's favorite country, the USA.
Thanks for this! It’s great to have another point of view. You’re right, you don’t need more than you need. Love that about Japan, don’t take more than you need. No one piles on food as a buffet. It’s a culture that would change if more non-Japanese came I think. I wonder how it’ll change in the next 25 years … how they maintain their core which is what makes life so great but the societal pressures non-Japanese don’t feel here is real. Another reason things work well, not having that might have a big impact on that nice life here…
Jagmeet Singh is a traitor holding the country ransom for his 2M dollar pension. They need to change the laws so this doesn’t happen. An election is needed asap in Canada, this is not a good trend line for one of my favorite countries 🇨🇦 ❤️ need a stronger leader asap.
@onlyinjapanGO I think the threat of tariffs could finally spur change. If the tariffs happen and Americans stop buying their exports, they'll be in serious trouble with all their welfare
Overall, John's comparison of average (or mean?) income from roughly 10 years ago to today doesn't take into account inflation. In other words, along with the rise in salary in the U.S., prices have also risen. And what that also means is that when you compare Japan's income in dollars as well, U.S. inflation hides how much the average Japanese have lost in income, at least as a world comparison. My take is that the Japanese are still doing quite well compared to nearby countries like Indonesia or Cambodia. And the Japanese economy now being behind Canada is a pretty low bar.
Exactly....just because americans make more money doesnt mean that they reap more benefits. No. Everything is just too fkn expensive in the US and its going higher everyday. College education and rising healthcare costs are 2 examples of this
If you raise it too high too fast, like California, you will see that for sure. But it should raise with inflation to some extent. Everyone finds loopholes though. There are so many. I worked for minimum wage before. It’s a motivating thing … 5 dollars an hour for 40 hours is $200 😬 1992 gosh …
I noticed camera makers like Panasonic have amazing deals! The GH7 is a bargain here! But Sony stuff is not. They price is based on the US market, they are more American than Japan 😂 I always get the feeling SONY doesn’t like Japan.
Purchasing power parity (ppp) is much more useful when comparing the GDP of countries than GDP per capita. In that case, Japan is in the top 10 countries. China and U.S. are numbers 1 and 2 for PPP.
GDP per capita is flawed. It's not in reality how rich a population is. GDP accounts all goods transacted throughout the country, this means companies and even the government's money, not just common people. Also even babies to teenagers who don't make any money are accounted in the population when doing per capita. This means according to GDP per capita means a baby is also making around $42,000 per year? In some middle eastern countries, GDP per capita seems high, but most of that money are companies and especially their governments, not necessarily the common people. GDP per capita shouldn't be a metric on how rich a country's population is.
Japan does NOT have good health care compared to here in USA Midwest. Plenty of Drs., emergency rooms open and staffed. Appointment to see Dr is rapid for regular exams. Can receive new knee, for example, 2-4 weeks.
Was thinking the same thing. Seeing comments to the contrary made me scratch my head. Had to use emergency services here in the US the other day for a family member and there was zero wait. A few minutes talking to the desk and my family member was in a room with intravenous fluids, being readied for a scan and bloodwork was already being done.
@ USA is a big country, as everyone knows, so the standard of life can be variable. Cities can be busy brutal places to live. Outside of cities life can be more casual and enjoyable. The majority of the USA is rural, so when comparing things compare Apples to Apples. Our healthcare is not only excellent, but also easily accessible.
GDP...per capita income etc...these numbers are basically for investors and big business people....these numbers don't really accurate tell what the real situation on the ground is....
I also thought you were too near the road and should also face the oncoming traffic so that you have time to react incase a car skid off the road behind you.
I’ll take a step back, I was well away from traffic although it may not have seemed so 😬 will keep it in mind so as not to worry you. I’m sure my mother watching is also in the edge of her chair!
USD to Yen was in the 250s in early 1980s and over 300 in the 1970s. It is cyclical however the problem with the USD is that it is the currency that oil is traded in. People keep saying tax the tourists more, however it is mainly the USD/Yen rates that are out of wack. So maybe it should be tax American tourists more only. Other countries exchange rates are not as wild. Making it more expensive to visit Japan again. GBP has had three peaks in last 20 years (2007, 2015 and 2024), 2007 was the biggest at 250ish yen to the pound, it is currently 197 Yen to the pound, only slightly higher than 2015. But it is events in both countries that have a impact on exchange rates, one cant just say its all on one. (e.g. it dropped by 10% when we had our recent budget because it was such a bad one). One possible way could be to stop the tax free shopping refund. Tourists pay the full retail prices without being ostracised and the government keeps more money in the country.
Very different economies. Very different world now. Japan will have to adapt, be smarter and also maintain its core which is what has made it successful. Not easy to change. We’ll see how the compete. Amazing to see Korea grow past Japan in many respects, much credit as they find ways to adapt faster.
Have you read about the newly found natural resource found in the Japanese sea beds ? Manganese nodules, used for lithium batteries for EV vehicles. Worth roughly about $26 billion dollars. If Japan could capitalize on its resources. Japan can pull itself out of a downward spiral, possibly being the biggest exporter of lithium batteries.
Just looking solely at GDP per Capita is not accurate. You need to look at GDP per Capita PPP (Purchasing Power Parity), which takes Cost of Living and other adjustments into account for a more accurate measurement of a country's wealth.
Totally concur the idea of propmoting talents and professional to Japan, But first, all it's needed to kick start the investment in AI, hardware and AI LLM/Agent development, like Softbank investing $100B, much more is needed for building chips manufacture. As far as yen concern, don't worry US cutting interest rates next year and forward, then once Japan goverment is stabilized, yen will appreciated in 3-6 months.
I still am, I travel Japan often but I earn 💴 yen, we buy in yen. I go home to the US to visit family there in yen. I feel it. It’s good through for international tourists. I’m a domestic tourists in Japan.
As American... Okay Nevermind, disagree with two points. I rather be in poor in Japan than poor in America.😂 In America, there is no 200Y JR TRAIN. You can't afford car? You don't get hired. You don't get hired, you start doing drugs. The poverty spiral is swifter in America, just see our cities.
It depends on where you live. Cities like New York have a robust mass transit, though the subways are more dangerous than Japan's. You have less need for a car there. As for owning a car, you can buy a used car beater for around $1,000-$5000 in the U.S, and from what I've seen, buying a car and maintaining it with the government regulations involved is much more difficult in Japan, including rural areas of Japan, which does have a robust car culture.
As for being poor in Japan vs the U.S., it depends on what you mean by poor. Except for the homeless, we have no poverty in the U.S., and our poor generally have government subsidized housing of some type, and there is definitely food available even for our homeless.
And the reason our homeless problem is so intractable, is we don't force the mentally ill into asylums. I don't know for sure, but I suspect that Tokyo law enforcement don't treat their homeless with the same civil liberty protections we do. And I'm not criticizing the Japanese if that's the case.
@@alsparks20 Not really. The U.S. is massive, and the number of cities with a "robust mass transit" system is insignificant compared to the size of the country. Even those mass transit systems that do exist in the U.S. are often outdated and underfunded. Buying a beater car doesn’t magically negate the considerably expensive maintenance costs that come with it.
We don’t have poverty in the U.S.? What in the… What bubble are you living in? According to U.S. government statistics, roughly 11% of the population lives in poverty-that’s about 37 million people as of the most recent data. Saying they “generally” have government-subsidized housing of some sort is laughable at best. There are children who go hungry at school, and you think homeless people definitely have food available? Man, you are seriously breathing some major copium here.
“Tokyo law enforcement”? What does that even mean? For one, Tokyo is not all of Japan. Just like in the U.S., every state and every city has its own laws and regulations. Japan is no different-every prefecture and city has its own set of rules. You’ve been making very broad and sweeping statements about the U.S. as a whole when, in fact, every state and city is entirely different.
@@starship8088 I wondered if someone would bring up the 11% "living in poverty" trope. So that 11% poverty rate statistic is calculated based on income made BEFORE social benefits are applied. After social welfare benefits are applied, poverty in the U.S. becomes negligible for people not living in the street.
And to me, if you are able to eat, and able to get shelter if you are willing to apply for it, that's not poverty. It's still poor, but not poverty.
Show me anyone living in the streets in the U.S. who isn't mentally ill, a drug addict, or just plain stubborn and wants to live that way, and I think you'll have a hard time. Of a population of 330+ million people, you'll find someone, but I doubt that it won't add up to more than 1% of the population, and probably half that.
"You don't get hired, you start doing drugs" Where does come from? I don't get it... Drugs or Alcohol are not nor have they ever been the answer.
I recently moved to the Matsumoto area after retiring from my career in the US
The standard of LIFE in Japan is simply miles ahead of what the average person can have in the USA
Making $100k is pointless when your house payment is $3500 per month and your medical deductible is $18,000 per year.
Not to mention the cultural bankruptcy of our top American cities, which are rife with homeless drug addicts and thugs.
Averaging American economic results never gives a true picture because the outliers (the 1%) have so much of the total wealth.
Also, lets talk about personal perceptions of safety…
Want to enjoy a safe night walk in an American city? Good luck.
Better to be poor in Japan than middle class in america
@@funkthat with the incoming "Make America Felonious Again (MAFA)" Trump (US President-elect)..... Good luck to USA!
Musk not almost worth 1 billion, he's worth around 430 billion...
Income does not tell the whole story. Cost of living must always be taken into account. Stuff like healthcare is something that breaks the wealth done fast.
I know, right ? Always hate it when people just skimped that out whenever talking about japan's salary is "low". Cost of living between nations aren't exact 1:1, even among first world nations.
I often dive into Tokyo Metropolitan Government online archive since they keep all the census data there, there is data about median monthly household expense that show median households only spent about 15-20% of all expense on rent. On another first worlds, rent easily make up more than 30%.
Every one could be a millionaire but if you need to be a billionaire to live you are poor
You know what, yen is dropping for not increasing interest rate, australia dollar is dropping because we are not dropping interest rate. The irony.
Not to wish Japan any harm, but as a foreigner I did take advantage of the weak Yen. Just yesterday, I bought something on Amazon Japan and I got about $20 off which was great because it nearly offset the entire cost of global shipping!
I just bought ASICS running shoes, maybe 40% cheaper here but it sells out super fast because ASICS can make more money in the US and sells more there. You can’t even find the ASICS SUPERBLAST shoe because they can sell for $200 in the US and not for ¥30,000 in Japan, impossible. It’s one example of why JP companies need to focus outside JP.
You are actually helping them.
In 2018 my wife got really ill at Jigokudani Snow Monkey Park.They had to call 911 and rescue her with a stretcher and 5 medical personel off the mountain. Yes, we were a mile from the parking lot to get to the ambulance. Then another 30 minute ride to a hospital in town. I had no clue where we were at. They had to call the resort we were staying at and let them know the situation. We were at the emergency room all day into early evening as they tried to get in tube in her arm. They never did. Anyway, it didn’t cost us anything for the 911 or hospital. The only thing we had to pay for was the medication they gave my wife. We were told if your a tourist in Japan that 911 was free.
I have Faith that Japan will Reinvent It's self , If any Country can, It's Japan.
I wouldn’t be surprised in 10 to 20 years from now there would be a lot of foreigners living in Japan.
Thanks!
Thaks for the Yen update. Always check in on it
Well of foreigners moving to Japan in any real numbers is maybe a little unrealistic. The routes are what, setting up a business, working for a local or international company, student visas, marrying a local or its short term visas or doing a tourist visa run every 90 days? If you are somewhat wealthy the business route (I think PewDiePie went this route) gives them the most flexibility and they can hire people to deal with paperwork. But these types of people aren't looking to live in remote towns and villages. They might buy a place near a ski resort, but they aren't living there. It ends up driving up property prices, driving out locals and killing communities.
A lot of Japanese were in Guam since it is closer and a lot cheaper than Hawaii
FWIW we visited Hawaii in October and my Japanese wife saw so many Japanese tourists there including local residents it was like being back in Japan! Japanese food there also tasted very authentic except for the very high prices 🍍 🌊
I don't see why Japanese want to go to Hawaii when they have Okinawa, Kerama islands, and Ishigaki, just as nice and cheaper. one correction Musk is worth about $500 billion not almost a billion, maybe you meant trillion
John I love your videos! I am glad I found you all those years ago. You are a great man!
Terrible inflation adjusted salaries in Japan while weak yen made some prices for imported items go up = less savings = less spending on luxury such as travel to Hawaii etc.
Another variable that needs to be considered is that the basic cost of living in Japan hasn't gone up much over the last 10 or even 20 years. Rent, food, services, costs all have been fairly flat. Whereas in the US they have gone way up. Housing prices in the US, especially on the coasts are dramatically higher than 10 years ago. Also look at health care costs, they are insane in the US. I agree with previous commenters, the standard of life for poor and middle class in Japan can be better than in the US.
So sorry to hear about the scary experience with Leo’s fever. I hope he recovered quickly. Much love to your whole family ❤
This isn't a hot take at all, but people like Elon Musk make America (and by extension the greater world) a much worse place to live in, mostly just due to how absurdly wealthy he is. America is the mostly wealthy country on Earth but that isn't really reflected by most of the population. Our world economic system works for rich people and capital owners, that's the problem.
Capitalism. It is the system, he is a symbol of America. His innovations have bettered America, no? If not, he wouldn’t be so rich. Tell me a country where a nobody can become a billionaire? It’s much easier in the USA. If you work hard, you can get ahead. He’s not old money. How about that? Inherited super wealth, people who are on another level in the shadows? Anyhow, if we look at wealth of Americans in the 1970s and now today, people live much better. But the US food supply, the corruption, the marketing … it’s in real need of change more than anything else. The potential of the US economy is by far the greatest in the world right now. They have the population, the world’s talent, a system that rewards innovation etc.
@onlyinjapanGO The thing is man, he wasn't a nobody. He came from a very wealthy family, which gave him a huge advantage most people don't have access to.
I wouldn't say he has helped America in regards to his so-called innovations. For example, I think the goal of Tesla making electric vehicles a normal everyday thing is great, but he has nothing to do with that, I'd point to the engineers actually creating all of this. If anything, he has hurt Tesla immensely with his management and projects like the Cybertruck (which ended up being a very dangerous vehicle due to build quality and the self-driving AI).
We have this idea of the mythical great man who is self-made and independent. The American dream tells us we can all make it someday, that we're all just temporarily embarrassed billionaires. We're told if we keep working our butts off, one day we too can become an Elon Musk. It's a nice thought, but I'd point to the disparity of wealth with the general population, Japan included, in relation to how wealthy rich people actually are and have been for decades.
@onlyinjapanGO with all due respect, you may want to find new information sources on Musk and his effect on the average American. Look into his Hyperloop "innovation", for example, which he deliberately used to derail high speed rail initiatives in the US. I love the trains in Japan, and a US version in select places here would be life changing. But as long as people like Musk have their money in politicians pockets, even minor rail investment is never going to happen.
Ya super ignorant comment. Elon is a godsend wish Elon built a factory in Japan and helped Japan’s government to wake the F up
We need Elon to poss bring Tesla battery pack factory to Japan !!
We need an Elon musk of Japan !!
@@GreyGiger Musk gave work to the engineers, so he created more jobs for people and continues to do so. He also took the financial risk, by starting businesses. Also the ideas for his inventions are his own, so it's not like he didn't do anything.
Merry Christmas from the USA 🇺🇸 🫶🎉🎄🤗
Merry Christmas!!! ^_^
We’ve just arrived back from Japan after visiting our Sons . We all caught COVID. My wife went to the local Hospital in Utsunomiya . The treatment,quality of care and the way she was dealt with was amazing. She was seen straight away,put on a ward and hooked up to a drip to replenish her fluids has she hadn’t ate or drank much for several days. She was also found to have a water infection. They have her a print out of all the test results and relevant drugs. They went to the hospital at 8am and were back at 2pm. ***You wouldn’t get this service in the UK National health system or even private medical care☝️. Excellent well done Japan.🙌 Total cost £130.00 Amazzzzing.
I recommend checking in your area for other types of small healthcare centers that you can go to in a real emergency.
The ambulance does this, other types - they search all types. What’s your suggestion? If you google this, it happens all over the country, not just here. People die in the ambulance waiting for admittance 😢
@@onlyinjapanGO I'm suggesting finding a local health center, get checkups so they are familiar with you guys, then if ambulances are that much of an issue, you can go to the center in some cases (depends on hours) and they'll know if they need to administer help right away or if you need a hospital. It's to give you some options. For example I have a primary care center only 4 miles away that is staffed with some doctors.
@@onlyinjapanGO You could maybe even interview the health care center for the channel. Then for sure they'll know you and you'll be more prepared.
My wife and I were in Japan when the US dollar was super strong (1 USD = 160 JPY!), and we refilled our mobile ic cards (icoca etc) with the maximum amount.
If you plan to return to Japan, get a Wise multi currency card and transfer USD to JPY to take advantage of the great rate later on.
I hope Japan doesn’t lose what they have which a unique and great culture. Sadly in a lot of major tourist destinations over-tourism ends up making places unliveable for the incumbent communities. Crime rises, rent and property prices increase.
my son has a Toyota House!!! and its great, quality and service was excellent.
Thank you so much for your posting!
Japan is doing well with contraction, the endless expansion economic theory is unsustainable.
The system must be ok with less.
They also need to limit tourist numbers because the locals are getting tired of people who don't care and Japan needs to stay Japan otherwise it looses what makes it wonderful.
But i think tourism is the blood of japan economy. Without it I don't think japan can thrive. Their industry is not what it used to be. With ev, their car is going down trend. Electronics is gone. So I think nowadays tourism account for a significant portion of their economy.
@golfrelax9795 all things must change I guess, but the difference between a medicine and a poison is the dose.
I don't related to this one but Thank you for today's stream John, unless it's coming in 3 days, Advance Merry Christmas for you and your family.
Merry Christmas!! 🎄
Have you seen this inflation drastically affect certain industries like healthcare, real estate, or construction? Has rent increased and construction of new buildings slow down? Have Japan residents noticed having to pay more for certain medicines and medical services?
Inflation is happening but not at the same level as abroad but without rising wages, we feel it as bad. It is hitting industries. Because the yen is so weak, buying anything from abroad is so expensive but they can’t pass the cost on as easily because people will stop buying. Like eating out, people doing it less. US beef is pricey for Yoshinoya. Impacts their cheap lunches.
@onlyinjapanGO I’m going there around Golden Week for the World Expo in Osaka and I just got to the part of your video talking about how more Japanese people will be domestic tourists than international tourists due to the weak yen so wondering if trains and certain hot spots throughout the country will be experiencing issues with over tourism than what’s currently happening. Will be interesting and hopefully the yen stabilizes. On the other side, I buy old film cameras for personal use and projects and usually get them from Japan due to the care and customer service from a lot of Japanese sellers, but I have noticed the prices for camera have increased 2-5x what they they were listed for pre-COVID. Do you think the weak yen is partly the reason for price increases in the resale market when ordering items from Japan?
One last comment, and that's the amount of Japanese tourists traveling overseas. I live in Fairbanks, Alaska, and we used to have a lot of Japanese come here in the winter to watch the Aurora Borealis. The slide of the Japanese Yen against the U.S. Dollar occurred pre-covid, and at that point we began seeing a lot of Chinese tourists, again pre-Covid.
I don't work in the tourist industry here, but I have been told by those who do that the Japanese were more polite and easier to deal with than the Chinese. American tourists have, for decades, had a bad reputation, at least in Europe, being called "ugly Americans."
It seems the Chinese have a similar reputation here and in Japan.
Retro stereo equipment like power Amps, receivers, turntables etc have become popular again and demand a high price. Sony, Onkyo (if still exists), and Yamaha, should put out some new lines of high end home stereo equipment with 100-240V capability. I'd be a buyer, specially of the Onkyo stuff, loved that equipment
New financial system is coming sooner than later.
. Hope this will solve yen’s problem too.
As a Canadian, very tough time.
Earlier in the year 1 Great British Pound was 204 Yen and is currently 196 yen trending upwards...I actually agree John Tourism 2030 is almost here. What concerns me is the heart of the Japanese when it comes.
Heart is strong, but if people who come here can’t accept the societal pressures that make things work well, I can see increased issues. It’s because Japanese don’t have families because the things I talked about … it’s just not something people want to do. As a new father, I get why. But who’s going to live in the new mega condos going up all over Tokyo? The declining Japanese population? It’s curious. I guess Tokyo is the exception. The skyline is getting taller very very quickly.
Japanese companies not raising salary maybe because the turnover staff is low because in Japan culture is to work at one company until old mostly,thus competitiveness drop as well.
Usually you need staff turnover so you can recruit talented new staff to help grow the company and those new staff also ask for higher pay.
Surprisingly Japan unemployment Rate is low at 2.5%. finding new talented staff should be a challenge without paying good salary. Just weird 😅
The gains made by Singapore from 2000 were amazing, from lower than Japan to greater than the US. Maybe Japan should look to Singapore for some ideas.
It really is an amazing story, democratic city-state that is so well positioned for business, highly educated population, good schools … one of the best airports in the world, delicious food - had to add that.
Happy Holidays and a prosperous 2025 to all of you and yours. Cheers 🎉
There must be a better way to measure wealth than exchange rates
Just indicators and trends. Show me the opposite and the trends that aren’t going in this direction … Americans often don’t realize how positive the economy can and does look going forward although stuff always happen, trend lines tell a story.
@@onlyinjapanGO I AGREE with you that the current Japanese economic situation is not that fantastic but I am confident Japan will be on the right track. Japan will be OK ! Anyway, the exchange rates alone do not truly reflect the full story of the yen's value or Japan's economic health.
While exchange rates are valuable indicators of SHORT-TERM market sentiment and international competitiveness, they do not fully capture the structural, domestic, and long-term dynamics of the yen or Japan’s economy.
The yen’s current weakness might seem "exaggerated" IF analyzed only through short-term trends, especially when considering Japan’s strengths like its high savings rate, technological prowess, and stable economy.
A holistic approach that incorporates exchange rates, PPP, REER (Real Effective Exchange Rates) and structural factors offers a fairer, more comprehensive assessment.
@@onlyinjapanGO Exchange rates alone do not reflect the full story of the yen's value or Japan's overall economic health.
While exchange rates are valuable indicators of SHORT-TERM market sentiment and international competitiveness, they DON'T fully capture the structural, domestic, and long-term dynamics of the yen or Japan’s economy.
The yen’s current weakness might seem exaggerated IF analyzed ONLY through short-term trends, especially when considering Japan’s core strengths like its high savings rate, technological prowess, and stable economy. Even Singapore is doing better than the US on the Per Capital basis today. Singapore should be used as the benchmark for economic revitalization for JAPAN.... Not the US!
CEO to worker income ratio and the price of a Big Mac relative to minimum wage.
@neubro1448 Good points. Using holistic metrics like the ones that you mentioned combined with critical factors such as property ownerships, ready access to social benefits, savings rates may provide a more nuanced & clearer picture of wealth situations in Japan (e.g. Using the Big Mac Index to measure PPP in Japan vs the US or Switzerland reflects Japanese Yen's reduced international purchasing power). Japan's relatively low minimum wage in global terms shows that wealth & income distribution are very pressing issues that must be addressed!
Boj not raising rates wasn't good for the yen.
You mentioned growing your channel, I noticed you haven't recently done too many joint videos with other creators like Tokidoki Traveller, Tokyo Creative or Tokyo Portfolio. Also Chris Broad recently started putting ads directly into his videos so he's probably looking for new ways to promote.
The Netherlands might be doing okay economically, but people aren’t happy. Rising living costs are making it harder to get by, even with higher salaries, and civil unrest is growing. On top of that, there’s more hate towards migrants, Muslims, and non-Caucasian groups, which is tearing society apart.
Meanwhile, in Japan, even with the yen struggling, life feels more manageable. Healthcare is affordable, public transport is top-notch, and there’s less income inequality. Plus, the focus on community harmony helps keep things calmer compared to the growing tensions in the Netherlands.
But what about the billion dollars package plan to safe the economy?
When you’re talking about “saving the economy” with stimulus packages, you’re not winning. Stimulus is in the wrong places … it’s propping up failure without fixing the problems causing it! To save the economy, there needs to be confidence and I don’t feel it inside Japan. Ishiba-san is not projecting it as a leader either … not yet anyway.
Ive got flights booked for May 2025 coming from Australia I can't wait
Japan is definitely declining. But also England, Germany, France and Canada have become poorer and poorer. Canada per capita worse than Mississipi the poorest state. Overall USA is on another level.
There were never going to be hydrogen cars.
Singapore is too expensive for me
You're absolutely right and people are twisting themselves into pretzels to try and say otherwise
Japan will become poorer overall and increasingly a less relevant country economically. It will probably end up like a European country reliant on tourism.
The path to that will take a long time and can be avoided … it’ll be fascinating to see how it plays out. I’ll be here to see it
Yes . but it's per capita. Japan has 4 times the population of Canada. I'm sure Japan is much richer of a country overall.
A declining population with no hope to increase. Canada took in millions in illegal and refugee migrants the last several Trudeau years. Canada is resource rich. Use it! Ive been shocked at how poorly Canada is doing. Should be as rich as Norway 🇳🇴
John, I can see you in a Cobra 428 (the cool car that passed by) as your retirement car. Lol.
Disagree with one point. USA having buttloads of billionaires isn't good thing for avg Americans... You know what other country has lots of billionaires? Russia...
United States - 975 billionaires
China - 514 billionaires
Germany - 176 billionaires
India - 166 billionaires
United Kingdom - 120 billionaires
Switzerland - 111 billionaires
Russia - 107 billionaires
Saudi Arabia - 71 billionaires
You should run for Parliament and work to be the PM. As far as life in Japan, Americans may make twice the Japanese but everything here is more than twice as expensive. Plus the crime rates numerous illegals and cost of living, life is better in Japan. My son lives there and I keep telling him to stay there.
Just need to tax those tourists higher. Glad that Himeiiji is already starting this next year. Japan is way to cheap for the masses of tourists. More expensive also helps weed out those plebs who can barely afford it.
Interesting! Thanks for sharing it. ✌️
Weaken currency is also good for exports, which could lead to higher oversea sales, which could also lead to higher tax revenue for JP government.
I honestly don't see what's the problem ? During 60-70s, JP economy was at its highest and yen at the time was ¥300-330 to the dollar. It wasn't until Plaza Accord that yen became "stronger" which led to the bubble.
A nation whose economy very depended on its export of manufactured goods, such as Japan, will always be hurt by strengthening currency.
Yes, I mention why SONY doesn’t like the JP market. Overseas sales have always been better for them. More biz needs to look to expansion. Now. But it’s too late for many groups. The rot inside makes big corps sluggish and cannot compete well. Japan Inc though is a strong brand and we’ll see how this plays out. 2030 is just 5 years away!
Everywhere is short of Doctor. HK and australia too.
Hawaii is 1 of the most expensive places to go on holiday to. It's keeping a lot of people from going there. Not just the Japanese.
I don't get the title, what you mean with tourists will rule japan?
Overall, i think living in japan is still a lot better then living in usa. safer, cleaner and more constant.
im so agree with u.. japan need to raise the rates no matter what.. billionare are abusing it and took advantages of it.. that is why when japan tried to raise the rates on july.. all stocks market in the world went drastically down.. please make a move japan😭
Risk aversion is an issue. But they have wanted inflation for decades and have it now, they don’t want to lose it! But if wages do not increase, it’s pointless. There’s sure to be more political pressure for biz to increase wages but the risk to corporations esp domestic ones is real, they feel it’s risky to raise it. So something has to give.
@@onlyinjapanGO yes so true T_T.. thankyou for the information
Please do the Toyota hydrogen car rental. Very interested! I am holding off buying a pure lithium battery based EV for exactly the reason you mentioned.
Headed there in June...
You’re going to love it!! 🇯🇵 ٩(^‿^)۶
As for the Japanese economy, what worries me most is the stifling effect of Japanese corporate culture and its resistance to change / creativity. Japan while brilliant in engineering and manufacturing, missed out on the software revolution: "software is eating the world" and perhaps now "AI is eating the world". Japan has nothing significant to show in either category.
Japan's biggest export, autos, may also be doomed in that the world is moving towards EVs, which have a much lower barrier to entry (no combustion engine R&D required for example) - hence China is poised to dominate here.
Tough times ahead for Japan. I hope that gov sponsored innovation in chip fabs, etc. will revitalize certain areas of the industry.
Resistance to change vs risk aversion
Canon camera company … they never take risks. They’ll handicap their cameras who they know that will have something new next year. China unleashes the beast! It’s a beautiful thing to see 😝 the risk and reward, the ability to change fast. Hard to see Japan competing with that, with China. But it’s a long road and China has some issues with demographics, very bad ones.
What makes you think the USD will stay the same.. once the USD reserve status collapses you will find the opposite will happen.. Japan will go back to being part of the Asian fold politically speaking and not be the lapdog status to a bankrupt empire that it currently is.. that day is around the corner.. same goes with Korean..
You have no idea how good you have it over there, grass is greener I suppose. 😅
Yeah, that’s always it, right? As a foreigner living here, I don’t feel the excruciating societal pressure. Japanese don’t get that living abroad. It’s that pressure that keeps Japan so nice too. Would foreigners moving here adhere to that pressure to do the right thing? 🤔 how will it change Japan? It’s a wonder …
Hey John, when I first came to the US, a dollar was 270 yen in 1980. It’s been a while, but if you consider PPP(Purchase Price Parity), it can’t be as bad as the US.
Cheer up, John, and make more kids!!! 😁👍
Were doing our part 😂
@@onlyinjapanGO can you guys squeeze out any more? 😂
At this rate 170yen when Euro reach 1.0
Raising minimum wage will cause MORE inflation
Remember the enemy is not inflation. Inflation means the economy is growing. That also means increasing wages. What we should be worrying about is companies gouging us with their high prices with record profits. And part of that is keeping wages low so the companies and shareholders can keep the money to themselves. The enemy is the entities and people hoarding the money. Not inflation, not increasing wages.
@leandrowngo inflation means something went up in price. You can have a growing economy with no inflation.
@@MartianAmbassador69Maybe. But you’re at risk of deflation, i.e Japan right now. And again, inflation is still not the enemy. At the end of the day people struggle because the cost of living is outpacing wages. Companies are using inflation as an excuse to raise prices but also finding ways to not raise wages. If the money goes back down to the people, or trickle down, then that’s fine. The problem here is the money is being hoarded up. The money people are spending are not going back to people. People get shafted by the worst of inflation without getting the benefit of it.
@@leandrowngo nobody is hoarding money. That's literally the worst thing you can do in an inflationary environment because inflation will eat away at the savings. And again, if companies increase wages, they'll have to increase prices. Both of which will cause further inflation.
Their min wage has been prety low for a long time, and rent has been increasing/cost of living. Just because these type of conservative cultures are less likely to protest or unionize or ask for a living wage;,, they should be allowed a better living wage; its why they don't date or marry anymore, its why the birth decline. Thats the problem with conservatism, they are more likely to fall for dictatorships/and ideologies which people dont like.
Soon their "nationalists" will get angry and win politics and boot out foreigners, once they start seeing a large spike of "immigrants", as those immigrants are mainly there for low wage jobs and to devalue wages even further, just like every western capitalist playbook.
I actually made $27,000 this year so I don’t know who is getting rich not me
I think Japan spends a lot of your tax money on infrastructure?
"pro business?" Trump has promised across the board tariffs on goods imported from China, Mexico, and Canada. What about that will strengthen the US economy? It will (according to estimates from leading economists) increase inflation even further, increasing the costs of everyday goods, and add billions of dollars of extra expenses for American businesses.
The assertion that tariffs will bring down the national debt, force manufacturing back to the U.S., decrease inflation, and harm foreign countries requires a nuanced examination of economic principles and empirical evidence.
In summary, while tariffs might have some of the intended effects like increasing government revenue or protecting certain industries, the broader economic implications, including their impact on inflation, national debt, and international trade relations, are complex and often counterproductive to some of the goals outlined in your statement. The actual outcomes depend on numerous factors including the scale of tariffs, the response of foreign governments, and the adaptability of domestic industries.
The average American has it pretty bad in nearly every metric. I just moved to Japan from Los Angeles, and I am relatively well-off running my own business. The quality of life in Japan is far superior on average than in the USA. America is a corporate dictatorship with an oligarchy of corporate executives. Things are very bad. If business climate is your primary concern (as opposed to actual climate), there may only be a short-term boost in America. The strength of the American economy has a lot to do with economic problems globally, not simply because of the objective quality of the US economy. Economic life is brutal in America: Credit card debt, car dependency, rampant homelessness and poverty in the midst of wealth, medical debt (or extremely high medical expenses), childcare expenses, the ever-present threat of school shootings/mass shootings, declining life expectancy and poorer health into old age relative to similarly developed countries, and the cost of living overall with low access to high quality food and recreation that doesn't come with a high price tag. It's pay-to-play in America all day. If you're not rich, enjoy the crumbs that fall off the table.
When GDP isn't used as the only metric of economic health, we can see Japan's "qualitative wealth:" excellent infrastructure and the world's best train system, a rich and deep cultural and historical legacy in the world of food and crafts, general safety and security in public spaces, access to green space from parks to temples and shrines, unique hospitality in the form of ryokan, incredible recreation from hot springs to accessible winter sports. There is so much happening in Japan and you don't have to be rich to enjoy it all. I'd be curious to see how the other top GDP countries measure up to this, as I'm sure this cannot be said of many other places in the world, let alone God's favorite country, the USA.
Thanks for this! It’s great to have another point of view. You’re right, you don’t need more than you need. Love that about Japan, don’t take more than you need. No one piles on food as a buffet. It’s a culture that would change if more non-Japanese came I think. I wonder how it’ll change in the next 25 years … how they maintain their core which is what makes life so great but the societal pressures non-Japanese don’t feel here is real. Another reason things work well, not having that might have a big impact on that nice life here…
You can say “Trump”…
Go Vols!
Next year! Great game!!
Joh, slow down with the speaking please
It’s cold, I try to move faster, my jaw does anyway 😝 hahaha
Can't believe Canada thought communism/socialism would succeed THIS time 😂
Jagmeet Singh is a traitor holding the country ransom for his 2M dollar pension. They need to change the laws so this doesn’t happen. An election is needed asap in Canada, this is not a good trend line for one of my favorite countries 🇨🇦 ❤️ need a stronger leader asap.
@onlyinjapanGO I think the threat of tariffs could finally spur change. If the tariffs happen and Americans stop buying their exports, they'll be in serious trouble with all their welfare
@@gordgallagher1650 speak your mind and don't police others
レッツゴー円安🎉🎉😂!!
Overall, John's comparison of average (or mean?) income from roughly 10 years ago to today doesn't take into account inflation. In other words, along with the rise in salary in the U.S., prices have also risen.
And what that also means is that when you compare Japan's income in dollars as well, U.S. inflation hides how much the average Japanese have lost in income, at least as a world comparison. My take is that the Japanese are still doing quite well compared to nearby countries like Indonesia or Cambodia. And the Japanese economy now being behind Canada is a pretty low bar.
The problem with raising minimum wage is that customer goods will also be raise, to cover wage cost. So technically it doesn't solve the problem.
Exactly....just because americans make more money doesnt mean that they reap more benefits. No. Everything is just too fkn expensive in the US and its going higher everyday. College education and rising healthcare costs are 2 examples of this
Doesn't it the other way around ?
You can't even type a fully formed sentence correctly. I doubt you know anything about how the minimum wage supposedly affects inflation.
If you raise it too high too fast, like California, you will see that for sure. But it should raise with inflation to some extent.
Everyone finds loopholes though. There are so many. I worked for minimum wage before. It’s a motivating thing … 5 dollars an hour for 40 hours is $200 😬 1992 gosh …
Might be the time to get me that Leica i've been after!
I noticed camera makers like Panasonic have amazing deals! The GH7 is a bargain here! But Sony stuff is not. They price is based on the US market, they are more American than Japan 😂 I always get the feeling SONY doesn’t like Japan.
@@onlyinjapanGOSadly, Leica just announced their normal price hike.. so i don't know what kind of savings i'll be getting. Thanks John!!
Sigma and Voigtlander are super bargains here, but Leica is even more expensive than in the USA.
@@onlyinjapanGOyes, Sony did a turn around long time ago and I would not consider them Japanese company anymore.
@@hks9489 Wait... is it? thanks for the information.. i'll crunch me up some numbers... and make a decision.
Purchasing power parity (ppp) is much more useful when comparing the GDP of countries than GDP per capita. In that case, Japan is in the top 10 countries. China and U.S. are numbers 1 and 2 for PPP.
Does not feel like that. It feels like that drop is happening in real time.
Dont forget its US destroying Japan economy any way they can 😢
Go Blue!
Go Bucks! OH-
(Gotta love the rivalry!)
GDP per capita is flawed. It's not in reality how rich a population is. GDP accounts all goods transacted throughout the country, this means companies and even the government's money, not just common people. Also even babies to teenagers who don't make any money are accounted in the population when doing per capita. This means according to GDP per capita means a baby is also making around $42,000 per year? In some middle eastern countries, GDP per capita seems high, but most of that money are companies and especially their governments, not necessarily the common people. GDP per capita shouldn't be a metric on how rich a country's population is.
Sony's best selling product for now...Playstations.
Japan does NOT have good health care compared to here in USA Midwest. Plenty of Drs., emergency rooms open and staffed. Appointment to see Dr is rapid for regular exams. Can receive new knee, for example, 2-4 weeks.
Was thinking the same thing. Seeing comments to the contrary made me scratch my head. Had to use emergency services here in the US the other day for a family member and there was zero wait. A few minutes talking to the desk and my family member was in a room with intravenous fluids, being readied for a scan and bloodwork was already being done.
@ USA is a big country, as everyone knows, so the standard of life can be variable. Cities can be busy brutal places to live. Outside of cities life can be more casual and enjoyable. The majority of the USA is rural, so when comparing things compare Apples to Apples. Our healthcare is not only excellent, but also easily accessible.
Aloha !
Aloha!
I saw that video also
GDP...per capita income etc...these numbers are basically for investors and big business people....these numbers don't really accurate tell what the real situation on the ground is....
Trend lines are hard to ignore.
I also thought you were too near the road and should also face the oncoming traffic so that you have time to react incase a car skid off the road behind you.
I’ll take a step back, I was well away from traffic although it may not have seemed so 😬 will keep it in mind so as not to worry you. I’m sure my mother watching is also in the edge of her chair!
USD to Yen was in the 250s in early 1980s and over 300 in the 1970s. It is cyclical however the problem with the USD is that it is the currency that oil is traded in.
People keep saying tax the tourists more, however it is mainly the USD/Yen rates that are out of wack. So maybe it should be tax American tourists more only.
Other countries exchange rates are not as wild. Making it more expensive to visit Japan again. GBP has had three peaks in last 20 years (2007, 2015 and 2024), 2007 was the biggest at 250ish yen to the pound, it is currently 197 Yen to the pound, only slightly higher than 2015. But it is events in both countries that have a impact on exchange rates, one cant just say its all on one. (e.g. it dropped by 10% when we had our recent budget because it was such a bad one).
One possible way could be to stop the tax free shopping refund. Tourists pay the full retail prices without being ostracised and the government keeps more money in the country.
Very different economies. Very different world now. Japan will have to adapt, be smarter and also maintain its core which is what has made it successful. Not easy to change. We’ll see how the compete. Amazing to see Korea grow past Japan in many respects, much credit as they find ways to adapt faster.
Have you read about the newly found natural resource found in the Japanese sea beds ? Manganese nodules, used for lithium batteries for EV vehicles. Worth roughly about $26 billion dollars. If Japan could capitalize on its resources. Japan can pull itself out of a downward spiral, possibly being the biggest exporter of lithium batteries.
Just looking solely at GDP per Capita is not accurate. You need to look at GDP per Capita PPP (Purchasing Power Parity), which takes Cost of Living and other adjustments into account for a more accurate measurement of a country's wealth.
GDP is accurate for what it measures though. PPP actually is less accurate but gives a presumed feels like score for countries with weak currencies.
LOL i love the "as an American actually being poor in japan is better" comments here that totally ignore the point john is making.
It happens 😬
Hydrogen is DOA 😂 it cost more money to make then Gasoline even ! Look at Tesla sucess in comparo
🤙🏽
Yes, Japan needs immigration, so address the xenophobia.
Ohhhhj
John you’re on fire! 🔥 素晴らしい!
Just talk to the people in California and see how happy they are with hydrogen Toyota cars 😂
Totally concur the idea of propmoting talents and professional to Japan, But first, all it's needed to kick start the investment in AI, hardware and AI LLM/Agent development, like Softbank investing $100B, much more is needed for building chips manufacture. As far as yen concern, don't worry US cutting interest rates next year and forward, then once Japan goverment is stabilized, yen will appreciated in 3-6 months.
Weren’t you a tourist once?
I still am, I travel Japan often but I earn 💴 yen, we buy in yen. I go home to the US to visit family there in yen. I feel it. It’s good through for international tourists. I’m a domestic tourists in Japan.