Word: japanism
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...mail yesterday that he found Barro’s analysis “highly informative” and “certainly more credible” than quantitative economic forecasts circulated by the Federal Reserve. “I would guess that the risk of the US having a Japan-style lost decade, where the economy goes in and out of recession for years on end, is more likely than the risk of a catastrophic double-digit output collapse,” Rogoff wrote. Rogoff also expressed the need for a speedy response by the Obama administration if the economic...
...Treasury Secretary Timothy Geithner warned this week that the U.S. recession is deepening and Japan's Prime Minister Taro Aso said there is "no bottom in sight" for his sinking country, many investors turned to China for a measure of hope. There have been glimmers of stability recently in the world's third-largest economy, and Asian stock markets briefly climbed midweek amid reports that Beijing would announce additional stimulus measures on top of the $586 billion it has already said it will spend to revive its slowing economy...
First it was a “credit crunch,” then it was an “economic crisis,” and now a “global economic downturn.” But, with Japan in recession, Europe in recession, and the U.S. in recession, it is high time we face our fears: We are living through a global recession. Still, the worst may be yet to come—if policymakers continue to push for short-sighted economic nationalism, they will make sure this becomes the worst bogeyman of them all: a global depression...
...Japan's Nikkei fell to a near 26-year low before rebounding and closing down just 0.7% on Tuesday. Hong Kong's Hang Seng retreated 2.3% and Shanghai's main index dropped 1.1%. Seoul's KOSPI, however, finished up 0.7%, with Taiwan's index also slightly higher. (See pictures of the global financial crisis...
...nuclear program in 1994 that resulted in the Agreed Framework treaty. Bosworth was dispatched Monday on his first mission to Asia; he is expected to discuss ways to best bring momentum to the deadlocked six-party talks on North Korea's nuclear disarmament involving the two Koreas, China, Japan, Russia, and the United States...