11.12.2012 17:05

Yen Edges toward Brink

Those forecasting a reckoning for Japan's currency have been foiled before, but there are reasons to believe the situation has changed
By Andy Xie
 
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Every time I come to Japan to attend a conference, I am reminded of what a depression looks like in the 21st century. This time is no different: shops are not busy, restaurant owners wait anxiously outside for customers and are usually disappointed, empty taxi cabs roam the streets. Two decades after its property bubble began to deflate, Japan remains mired in deflation and contraction.

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