The Globe and Mail
🏢 Globe and Mail Inc. (Woodbridge)
Aug 8, 2026
· 6 min read
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As Uncle Sam plays God with Japan’s yen, the world economy stands on edge
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Article Excerpt
OPINION
As Uncle Sam plays God with Japan’s yen, the world economy stands on edge
JOHN RAPLEY
SPECIAL TO THE GLOBE AND MAIL
PUBLISHED 45 MINUTES AGO
Open this photo in gallery:
U.S. Treasury Secretary Scott Bessent co-ordinated with the Bank of Japan last week to stem the yen's decline, a highly unusual move that could affect us all, John Rapley writes.
KYLIE COOPER/REUTERS
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John Rapley is a contributing columnist for The Globe and Mail. He is an author and academic whose books include Why Empires Fall and Twilight of the Money Gods.
In a U.S. administration …
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Aug 8, 2026