Tuesday, October 19, 2010
Japanese Economy "at a Standstill"
Exports in Japan are struggling due to a slowdown in global demand caused by the poor exchange rate as the yen is currently valued high compared to the dollar. Japanese officials say that a return to recession is not out of question. Globally, economies are still struggling.
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The other reason the Japanese economy is hurting is simple - the U.S. is consuming far less than usual. Until the U.S. economy recovers and consumption levels rise, every country relying on that consumption will struggle to recover.
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