"Japan has long harvested a shrub called mitsumata for its money supply. But when mitsumata started dying out, Japan frantically searched for alternatives to make yen. It found a lifeline in the foothills of the Himalayas. A low-value crop called argeli grew abundantly and served as a perfect replacement for mitsumata. Argeli was worth very little, often the only option for farmers who'd lost their crops to wild animals."
"When the Japanese arrived, they turned the once low-value argeli into a cash crop. Now, one of Asia's poorest countries is growing the money for one of Asia's richest nations. And the influx of cash brought industry and investment to Nepal's small villages. But while Japan loves its physical yen now, what will happen to Nepal's new big business if the country goes cashless like the rest of Asia?"
Nepal supplies argeli, a shrub grown abundantly in the Himalayan foothills, which Japan uses as a replacement for dwindling mitsumata in yen production. Argeli previously had little value and served as a fallback crop for farmers who lost harvests to wild animals. Japanese demand converted argeli into a cash crop, directing new income, industry, and investment into Nepalese villages. The trade makes one of Asia's poorest countries a key supplier for one of its richest nations. The future of Nepal's argeli-dependent economy is uncertain if Japan or the region shifts toward cashless transactions, threatening demand for physical yen.
Read at Business Insider
Unable to calculate read time
Collection
[
|
...
]