With two quarters down, Japan is poised for its fourth recession in ten years. However, the expected...
With two quarters down, Japan is poised for its fourth recession in ten years. However, the expected recession is not the only thing the economy should be concerned about: the banking sector is at the brink of collapse and most fund managers have lost faith in the Koizumi government. Koizumi was expected to be the stable prime minister Japan was longing for. However his 'no aid' policy to the banking sector is a disaster waiting to happen. 'The optimism in Japan was dampened by Koizumi slowing his macro-level, top-down restructuring and by the lack of progress on bad debts,' says Phil...
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