Japan's rebuild still progressing well

We are still optimistic about Japan, but why? We are optimistic because, in our view, the two major drivers of growth in the world, the US consumer and China, will continue to grow (albeit at a slower rate) and this positive external environment will help Japan. The longer Japan has to resolve its (dwindling) bad debts and rehabilitate ailing corporations, and the longer it has to rebuild profits and domestic demand, then the more confident we are that Japan has truly bottomed out. We expect another year of progress. What progress has been made? We have seen dramatic progress in term...