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telegraph.com is an independent digital news service • not affiliated in any way whatsoever with telegraph.co.uk, The Daily Telegraph, or Telegraph Media Group • founded 1987 • on the www since 1992

Economics

The Yen Should Be Rising. Its Failure to Do So Is Exposing Japan’s Trillion Yen Debt Trap

The yen should be strengthening as the interest rate gap with America narrows. Instead it remains stubbornly weak. The market may be signalling a deeper problem: Japan needs higher interest rates to support its currency, but decades of cheap money have left the government with an enormous debt burden that becomes progressively more expensive as rates rise.

More analysis stories

Artificial Intelligence (AI)

The Age of Machine Discovery Has Begun

AI is crossing a consequential threshold. From solving open mathematical problems to generating scientific hypotheses, conducting experiments and searching for cyber vulnerabilities, machines are beginning to explore the unknown rather than merely reproduce existing…

Economics

The End of the Western Monopoly

For centuries, Western influence rested on more than military and economic strength. It also rested on the authority…

Further reporting

More from the archive

World

History Has Started Moving Again

For three decades the world appeared to move in one direction. Trade expanded, technology erased distance and globalisation seemed irreversible.…

In depth

Education

The Day India’s Students Said Enough

A leaked examination paper became the spark for one of the most remarkable youth movements in modern India. What began as an online satire—the Cockroach Janta Party grew into a nationwide protest that helped…

Background reading

Across the section

Artificial Intelligence (AI)

AI Is Being Grown, Not Built

Artificial intelligence is emerging from systems even their makers cannot fully explain. The question is no longer whether AI is…

The wider report

Iran

The Deal Died in Hormuz Before the Missiles Flew

Before American missiles returned to Iran, the bargain had already collapsed at sea. On Iran’s case, Washington broke the memorandum by refusing to respect Tehran’s temporary administrative role over Hormuz, then revoked oil relief…

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