Our Next Economic Plague: Japan Disease
Japan's nominal GDP fell 6 percent to 475 trillion yen last year, while its real GDP declined 5 percent. Meanwhile, nominal GDP in the United States decreased 1.3 percent to US$ 14.2 trillion and real GDP fell 2.4 percent.
If you travel across Japan and the United States, you get the impression that America is in much worse shape: Americans cannot stop screaming about their woes, while the Japanese face economic sufferings quietly. Maybe this is due to cultural differences. Regardless, Japan is in dire shape. Its nominal GDP is now lower than it was in 1992 when the nation's property prices first began to decline.
- Banks Face Obstacles to Using Biometric Data for ID Purposes
- The Week in Photos: May 16-22
- Graphics: Migrant March Slows
- Will the capital's ban on smoking indoors that comes into effect on June 1 be effective?
- Views: Worth the Ride?
- The American Debate over Legal Accountability of Chinese Companies
- This is How it Really Sounds
- England's Yellow Peril
- A Search for Common Ground
- Vietnamese Brides
- Sign up to receive our free daily newsletter
- Phone Maker Transsion Catches the African Beat
- Solar Panel Maker Suffering HK Share Sell-Off 'Failed to Repay Loans'
- The Big VIE Question
- Rain on CCTV's Moscow Parade Coverage
- China Unleashes Bonds to Tackle Local Debt
- Gov't Announces Plan to Upgrade Factories over Next Decade
- Tencent Expands Net Bank Experiment to 50,000 Social Media Users
- Public Hospitals to Be Opened to Investors, State Council Says
- Shanghai Transport Officials Move to Regulate Popular Taxi App
- Time for Reform Advocates to Step to the Fore