Word: japanism
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...their own past financial meltdowns in search of lessons that could help the U.S. and Europe. As ministers for the G-7 group of industrialized nations meet in Washington today to discuss the crisis, Japanese officials in particular are expected to offer up guidance to their Western colleagues. "Japan can be of help by letting them know our experience of struggling" with economic turmoil, Japan's Finance Minister Shoichi Nakagawa told reporters Tuesday...
...What They're Eating in Japan...
...demand for bananas as a fad diet sweeps the country. The popularity of the scheme, which prescribes a banana and a glass of warm water every morning, has been fed by online social networks, a best-selling book called Morning Banana Diet and celebrity testimonials. Leading banana importer Dole Japan reported that sales of the fruit are up 25% since the same period last year. Yet despite the empty shelves and rising prices, nutrition experts have been skeptical, saying bananas do not directly trigger weight loss...
...MSCI Asia Pacific Index finished the day up 1.2% after plummeting 16% during the previous week - the worst stock market rout suffered by the region since 1987. Hong Kong's benchmark Hang Seng index gained 3.3% after an 8.2% drop yesterday, while Korea's Kospi index rose .6%. Japan's Nikkei index fell .5% after rising in morning trading - hardly a robust recovery, but the panic selling that marked Wednesday's 9.4% free-fall dissipated, at least temporarily...
...Japan, which is believed to already be in a recession, did not reduce its benchmark rate because it already stands at just .5%. But the Japanese government announced that $20 billion would be injected into the country's financial system to help free up frozen credit markets...