Archive for the ‘economic force’ Category

For Japan, a Long, Slow Economic Slide

February 3, 2008

By Blaine Harden
Washington Post Foreign Service
Sunday, February 3, 2008; Page A17

TOKYO — As the United States frets noisily about a recession, Japan is quietly enduring a far more fundamental economic slide, one that seems irreversible.

This country, which got rich quick in a postwar miracle of manufacturing and alarmed Americans by buying up baubles such as Rockefeller Center, is steadily slipping backward as a major economic force.

Fifteen years ago, Japan ranked fourth among the world’s countries in gross domestic product per capita. It now ranks 20th.

Read the rest:
 http://www.washingtonpost.com/wp-dyn/content/article/2008/02/02/AR2008020200913.html?hpid=topnews