It wasn’t our fault but someone should do something about it – the reaction of Japanese policymakers to the turmoil in the world’s financial markets.<br /><br /> Tokyo’s benchmark Nikkei index fell over 11 percent in the past week and the yen is sharply up against the dollar, which hurts the country’s exporters. <br /><br /> Finance Minister Taro Aso would like a coordinated international policy response from the G20 nations. <br /><br /> Meanwhile he lamented: “Drastic fluctuation of share prices is not desirable. We’re seeing rough movement in the market and the government will continue to carefully watch the trend and respond appropriately when necessary.”<br /><br /> But it is unclear what his government, or any government and even Japan’s central bank could do. <br /><br /> Indeed some are accusing Bank of Japan Governor Haruhiko Kuroda of caused the problem with his negative interest rate policy, which was supposed to get the economy growing.<br /><br /> CLSA Japan Securities Researcher Nicholas Smith suggests it might be best if he does
