Word: japanism
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...Japan contract at 5% this year, China's economy is very likely to shrink faster. It will be faced with a sharp drop in what it makes and exports. More importantly, large numbers of Chinese are leaving the huge new industrial cities and going back to rural regions where they can at least find work growing their own food. What is more than a trickle now could become a flood. Those who have gone back to non-industrialized sections of the country will not be net consumers...
...influenza virus genome and not the result of overuse of antimicrobial agents like Tamiflu to treat the infection. That's based on the fact that during the last flu season, the resistant strain was widespread in countries with low Tamiflu use like Norway but less common in places like Japan where reliance on Tamiflu is high. (See Dr. Sanjay Gupta's Fit Nation column...
...called a massive problem of unfunded pension liabilities. The old law permitted retirement for women at age 55 and for men at age 60. The new law increases those ages to 60 and 65, respectively. The impact of longer life expectancy on retirement plans is common in Europe and Japan. However, Cuba is different because, unlike Europe or Japan, it is a rapidly aging but poor country. Plus, unlike China, which is about to age rapidly as well, Cuba lacks a reliable economic growth path of its own that would not depend on external subsidies, which in recent years have...
Even as our economy worsened, many Americans consoled themselves with the belief that at least we were better off than people in other rich nations. No more. When you compare the U.S. with Canada, Western Europe and Japan, the news is sobering. Our child-poverty and infant-mortality rates are the highest, our life expectancy is the lowest, our budget deficit as a share of gross domestic product (GDP) is the highest, and our 15-year-olds rank among the lowest on tests of math and science...
...Sasaki argues that, compared with a period in the mid-1990s when the yen hit a postwar peak against the dollar, today's negative impact on the Japanese economy is "not that large." That's because the U.S. over the past decade has seen higher inflation than Japan, where prices have been relatively flat for many years. To have the same effect as the peak in 1995 - when the exchange rate reached 79.75 yen to the dollar - Japan's currency would have to soar to 48 to the dollar, he says. "If we think about the inflation-rate differentials...