Japan is in A Recession

[C khid]

TOKYO, Nov. 17 -- Japan, the world's second-largest economy, has fallen into recession, the government said Monday.

The country's gross domestic product contracted at an annual rate of 0.4 percent from July to September, marking the second consecutive quarter of negative growth -- the technical definition of a recession. Japan's previous recession was in 2001, after the collapse of the dot-com bubble in the United States.

Japan's economy minister warned that the situation could worsen: Collapsing sales of Japanese goods in the United States and Europe amid the global downturn threaten to make the country's export-dependent economy even weaker in coming months.

"Downside risks to the economy are growing further, and Japan is in a very serious situation," Kaoru Yosano said at a news conference.

The announcement culminates nearly two months of relentlessly dismal economic news in Japan, where massive rates of private savings and strong balance sheets of major companies have not diminished a widespread sense of economic freefall.

read article:
http://www.washingtonpost.com/wp-dyn/co ... id=topnews

[Stink_Pink]

So is Europe

[C khid]

everybody wanted to take part in the Game of Greed and got stuck with with an empty hand

amazing how dumb the rulers of our nations have become and how loose-handed they are on businesses

[Khwaja Santo]

I'm a reseacher/engineer of nano-technology. Recession made investment negative. In addition, other Asian companies have been gaining power. As for consumer products, the price has priority. Then, we have been losing the share. Japanese makers had to change their strategy because labor costs and the aid of government were far from them. But, as for high-tech materials and production equipments, "made in Japan" has still power. If we stop exporting them, many high-tech products will be lost. For example, more than 70% of carbon fibers are made in Japan (almost 100% for high-tech products). And, more than half of solar panels, almost of polysilicon for semiconductor, 100% of some LCD components, etc. Moreover, do you know 35% of Boeing 787 are made in Japan? And, do you know the latest efficiency of Japanese photovoltaic power generation.If not, you should check the latest study.