Feb
17
2009
Japan’s Economy Unravels
The H Post is among a huge number of sources covering the sharp downturn of the Japanese economy.
If there was any doubt that this is a global recession, the economic news on Japan put an end to that this week. Tomoko A. Hosaka put it this way:
Japan's economy contracted at the fastest pace in 35 years in the fourth quarter as a collapse in export demand drained life from the world's second-biggest economy.
The short version… Japan depends on exports and no one want to buy stuff anymore. Japanese exports were down almost 14% in the fourth quarter of last year.
Photo courtesy of iStockphoto, Image# 8143798
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