Editorial

17:24 JST, September 22, 2025

Forty years have passed since the then Group of Five industrialized nations, including Japan and the United States, signed the Plaza Accord, which aimed to coordinate policies to correct the strong dollar.

Globalized under the leadership of advanced nations, the world economy has undergone a significant transformation, mainly with the rise of China and the decline of Japan’s position. Japan must build a strong economic foundation.

On Sept. 22, 1985, finance ministers and central bank governors from Japan, the United States, West Germany, France and Britain gathered at New York’s Plaza Hotel and agreed to correct the strong dollar.

Although initially hailed as a landmark agreement, two years after its signing the yen exchange rate, which had been around ¥240 to the dollar, surged beyond........

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