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How the world is reacting to Obama's reelection

3. Japan

In Japan, which is currently locked in a territorial dispute with China over a group of small uninhabited islands, “a lot of people will feel relieved,” Hiroshi Meguro, who teaches international relations at Nagoya University of Foreign Studies, says.

“He is more moderate, and people expect policy continuity to be maintained, which is especially important now that Japan has problems with China,” Meguro explains.

There are at least two towns in Japan named "Obama," which means "little beach” in Japanese, who are cheering today, reports Japan Today.

For the people of both Obama towns, the president’s reelection seemed to mean more of a chance to capitalize on their shared name.  “Four more years,” city hall official Hirokazu Yomo told Japan Today. “So we are happy this will continue and help with building our city.” 

Financial analysts worry what an Obama win could mean for Japan's economy, reports Channel News Asia:

Some analysts are concerned that Mr Obama's victory, combined with the failure of Greece to win a bailout, could pressure the Japanese yen to strengthen again.

"Obama's re-election means the dollar is not necessarily going to be strengthened from here to next year. That will be negative headwind to Japanese exporters, manufacturing industries and the economy in general," said Hiromichi Shirakawa, chief economist of Credit Suisse Securities Japan.

The weak US dollar keeps the yen high, which hurt Japanese exports.

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Mark Sappenfield
Editor

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