The Sun Also Rises
Is a revival on the horizon for Japan's economy? That may be good news for you.
In recent months, American businesses have focused theirattention on China, which is becoming increasingly competitive withU.S. firms. Several U.S. business associations are filinganti-China trade complaints in Washington, charging that Beijingkeeps its currency pegged to the dollar at a low rate to exportmore cheaply.
But even as they focus on Beijing, Americans appear to beignoring the fact that Japan, the world's second-largesteconomy, is recovering from a decade of economic malaise. Lately,Japan's economy has posted impressive figures, and a recentBank of Japan survey showed business confidence rose in Japan lastAugust and September, the first time confidence has gone up in morethan three years. The reason: Japan's economy grew by nearly 4percent in the second quarter of 2003, while Japanese exports grewby nearly 10 percent year-on-year in September.
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