In this case, U.S. long-term interest rates may rise gradually, which may in turn affect long-term interest rates in Japan and the U.S. dollar-yen exchange rate. Accordingly, close monitoring of future developments is required. 4.
China’s economy, and the NIEs and the ASEAN economies  With regard to the Chinese economy, the Chinese authorities implemented tightening measures, such as those to restrain the increase in real estate transactions and curb public investment, due to concerns that the massive economic stimulus measures that had followed the Lehman shock could cause an acceleration in inflation and a surge in asset prices.