The problem is that the policy has also caused the yen to depreciate, leading nearby countries to accuse Japan of adopting “beggar-thy-neighbor” policies. Similarly, emerging-market officials warned that monetary expansion in the US and the UK would trigger a wave of competitive currency devaluations, with Brazilian Finance Minister Guido Mantega going so far as to accuse the Fed and the Bank of England of waging a full-blown “currency war.”
问题在于该政策还造成了日元贬值，让周边国家指责日本“以邻为壑”。类似地，新兴市场官员警告美国和英国的货币扩张会触发竞争性贬值，巴西财政部长曼特加（Guido Mantega）更是指责美联储和英格兰银行发动了全面的“货币战争”。