Why Nepal Grows Japan’s Cash | Big Business | Business Insider
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 called argeli grew abundant and was the 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?
00:00 – Introduction
00:54 – Why Japan Chose Nepal
01:52 – Japan Trains Nepalese Farmers
03:34 – Nepalese Farmers’ Earnings
03:57 – Printing Yen
04:23 – History of Currency in Japan
05:01 – Why Cash Is Made of Paper
06:02 – Plastic Cash Goes Global
06:53 – Why Japan Stays Loyal to Paper Cash
07:12 – Japan Introduces a New Yen
08:03 – Nepal Cashes In
09:25 – What Happens in a Cashless Future?
10:07 – Why Japan Still Loves Physical Cash
10:48 – Nepal & Japan’s Lasting Relationship
11:25 – Credits
——————————————————
#argeli #japaneseyen #bigbusiness
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How A Shrub In Nepal Turns Into Japan’s Cash | Big Business | Business Insider
43 Comments
The thought of commercial wasabi farming in nepal tickles me . Id love to one day be able to eat real wasabi in nepal that was grown in nepal.
"the people designing polymer notes seem to forget people are sloppy and will run them through the laundry"
polymer notes can survive going through the laundry, paper notes cannot
polymer notes also dont melt in the car, they also arent flammable, dont tear as easily and dont get stained
i think this guy just entirely got it backwards? one of the main reasons for polymer notes is because people are sloppy
there will never be a cashless future
gotta love capitalism
so In Nepal money grow in trees
So Nepal is richer than Japan?
👏🏻🙏🏼
Nepali people are rich with love and bravery 🙏🏾
Japan can help Nepal in many Sectors with more Cooperation we can work for better Future.
I'm not from nepal.but.have many nepal friend because they all working in my country.what japan do make me happy,because this can help nepal economic..nepal people i know all very hardworking.
The who uses cashless in Japan more are expats. It will never be replaced just like Fax Machine is still used despite of having emails. Yahoo Japan is still the most Social Media website for godsake.
6:49 Mark Carney appearance (probz when he was Gov of the BOE)
It helped their economy
Good for the Nepalese, but it just goes to show how Japan’s unwillingness to change old habits is holding them back from catching up to their East Asian neighbours.
Paisa😊
they facku, they suffer
There will always be physical money.
Nepali paper is a big thing in Nepal. I'm not sure where you got the idea that it is somehow new.
Also, Nepali paper (lokta paper) is closer to papyrus in that it can last for a long time. We have 1000+ year old known specimen.
Sort of the perfect marriage for them to supply 🇯🇵, and tbh the supply will dry out real quick if it's for a country that prints almost half of billion each day😵💫🤯🫡
Bull crap. Banknotes were private invention for limited, private usage mostly. So called nation governments which are in reality localized and mafia decided that cash is easier to control and collect. 😅
Japan always maintain the highest quality of product manufacturing around the world. No such thing as counterfeit when those products produced by Japan.
The respect the Japanese fellow has for the Nepalese supplier is beautiful.
I hope Japs are paying well to Nepali workers/farmers for their hard work and not ripping them off!
US China Germany Japan UK and India must help smaller countries by giving them some business.
So what you do for living : i grow cash for living . ah.. anyway Nepal also should adopt this plant for money.
I am from India. Nepal earn 1000 time more money by exporting forest products to India as compared to export earning from Japanese paper notes raw materials.
Title change is real
the only reason japan still has physical cash is :
1) tourists
2) senior citizens
3) outdated cash-only businesses
4) people who avoid taxes/records
5) because traditional banks want people to "use money"
i imagine these reasons are similar to most places in first world countries where everyone has cell phones.
That’s Mark carney at 6:48 😂
With all the scams and leaks going on in this technological age, digital currency and identification is the most absurd consideration
Why the was that nepali guy speaking Hindi out of nowhere
9:42
WOW THATS AMAZING!
most places wouldnt care about their producers. Japan sees the need for that material may go down so they give them alternative ideas to help sustain their village. absolutely amazing work Japan!
Cash can’t go away . What happens when or if a country banking online system goes down ????
But why are they speaking Hindi ?
2:30 why are they speaking Hindi?
one of Asia poorest country . Thanks proud moment for us Nepali peoples
यसमा पनि भारतिय मिडियाको आखा लागिसकेको रहेछ । अब एक न एक दिन हाम्रो यो पेसालाइ पनि भारतियहरुले तहस नहस बनाउछन । त्यसकारण सजक रहाै ।
0:33—I see what you did there, “cash crop.”
Nepalese make money by making Japanese money & by going to Japan to work in hotels & konbini (convenience stores).
I love how they want to call my country poor 😢 give us some respect !!!!
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Why still use physical cash? Everything is e-payment nowadays.
As a nepali it’s amazing to see the contribution of Nepalese people behind the design of the Japanese yen currency. I really hope Nepalese broadcast teams create documentaries on them someday, since documentaries on Nepal’s economy are so rare.