Word: gdp
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Those who lived through Japan's "lost decade," that seemingly endless period of economic listlessness during the 1990s, may have felt a collective chill run down their spines recently. In the second quarter, Japan's GDP plunged 2.4%, the sharpest quarterly decline in seven years. Due to higher prices for imports such as oil, slumping exports and weak domestic demand, it now appears Japan may have slipped into recession in the fourth quarter...
...fair, the administration has some severe constraints on its ability to use fiscal and monetary tools to stimulate growth. Government debt stands at a whopping 160% of GDP, so the country can't readily spend its way back to prosperity. Cut interest rates? Not when the Bank of Japan's policy rate already stands at 0.5%. Still, Fukuda and his newly appointed Cabinet ministers have options...
...moment, the best bellwether of Western sentiment remains the stock market. Its recent nosedive reflects not just political turmoil, but also signs of an economy under stress. While GDP is expected to rise about 7.5% this year, Neil Shearing, an economist at Capital Economics in London, warns that unless Russian authorities get a grip on this heady growth and "take some of the steam out of the economy, we could have a fairly nasty correction over the medium term." Meanwhile, a report published by the Organization for Economic Cooperation and Development in July warned that Moscow must do much more...
...sector. Meanwhile, a 50% drop in China's stock markets from their peak last October is creating a reverse wealth effect, some economists believe, leading both consumers and companies to be more cautious about their outlays. Tao Wang, an economist with Bank of America in Beijing, says China's GDP growth will slow to 10% this year, down from 11.4% in 2007, and could drop...
...bring development to this sleepy former Portuguese colony - and it has. Between 2004 and 2006, $3.3 billion of foreign direct investment flowed into the territory, and the effect on this city of just 540,000 people can be likened to filling a teacup with a fire hose. Since 2003, GDP per capita has doubled, wages have risen by two-thirds and the unemployment rate has fallen by half. The economy grew 27% in 2007 alone...