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Monday, October 22, 2012

Don't Worry - Be Happy! Global Economy is booming: Japan suffers worst September trade since 1979

Japan had its worst September trade result in more than 30 years, as European crisis and a surge in antagonisms with its close economic partner China weighed down. Japan's trade deficit widened in September to 558.6 billion yen (US$7.2 billion), as exports plunged 10.3% year-on-year, according to the Finance Ministry reporting Monday. The September trade balance marked a major turnaround from a surplus of 288.8 billion yen last year, going the deepest into the red since 1979, according to The Telegraph. Japan’s auto industry suffered the most, as exports of cars fell 15% year-on-year in September. This was coupled by a double-digit fall of the country’s mainstay – exports of consumer electronics. The trade figures came as Japan's central bank governor, Masaaki Shirakawa, warned that the risk of shocks to the financial system from the debt crisis in Europe remains high, while slowing global growth is hitting manufacturing and exports.
“We must remain fully vigilant toward market developments,” Shirakawa told a quarterly meeting of the bank's regional managers.
A Chinese demonstrator shouts slogans during a protest against Japan's "nationalizing" of Diaoyu Islands, also known as Senkaku in Japan, in Hangzhou, east China's Zhejiang province, on Septermber 18, 2012. (AFP Photo)19.09, 15:1937 comments

China to cripple Japan with financial war over isles row?

China may introduce economic measures to cripple Japan in order to gain the upper hand in a territorial row. Following violent anti-Japanese protests and increasingly bellicose rhetoric, Beijing could employ sanctions to subdue its neighbor.
A security guard stands next to a signboard of the Bank of Japan at its headquarters in Tokyo. (Reuters/Kim Kyung Hoon)19.09, 13:18

Japan joins global initiative to stimulate growth

Japan's central bank has decided to extend its monetary easing programme by 10 trillion yen ($126 billion). It’s an effort to nurture the country's feeble economic recovery and cushion its exporters from the yen's rise against other currencies.
Chinese demonstrators set fire to a Japanese national flag during a protest. (AFP photo)18.09, 14:225 comments

China-Japan island row could hurt 'more than 2011 earthquake'

As the territorial dispute between China and Japan is gathering pace, analysts warn it could hurt trade relationships and bring Japanese producers more losses than the earthquake in 2011.

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