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.
- In Thursday's Papers: Dongguan Sees Slower Growth after Sex Trade Crackdown, Another China Resources Executive Investigated for Graft
- The 'Ifs' that Could Prevent Tragedies in Regulators' Offices
- Tencent's Deal for SK Entertainment Firm Has Star Potential, Investor Says
- Slashing Sand
- All (European) Politics Is National
- Northwestern Chinese City Counts Cost of Major Water Pollution Scandal
- Privilege Gap
- In Wednesday's Papers: Shenzhen Police Raid Offices of Video Streaming Firm, Gov'ts Made 4.2 Tln Yuan on Land Sales in 2013
- Does U.S. electric car maker Tesla Motors have a bright future in China?
- Budget Law Revision Proposes Letting Local Gov'ts Issue Bonds
- Sign up to receive our free daily newsletter
- The Long Goodbye
- Officials in Shanxi Scramble to Sort out Steelmaker's Debt Mess
- How Telecom Graft in China Tripped Up Telstra
- Shiller: What We Can Learn from Past Crises
- Jack Ma's 6.5 Bln Yuan Bachelor Party
- Stephen Roach: China, U.S. Headed in Opposite Directions
- Detective Work by Group in 'Black Jail' Claim Leads to Trial
- Graft Inquiry at CNPC Uncovers Shady Deal Involving Productive Oil Block
- The Search for the Chinese Workers Who Helped Build America
- P2P Lenders Heading into Dangerous Waters, Critics Say