Saturday, February 1, 2003

Japanese Economy Stalled by Unemployment and Spending Declines. Japan's jobless rate hit a record high in December, one of several indicators that show the economy stalled in the last quarter of 2002. By Ken Belson. [New York Times: Business] I keep reading things like this, but the stores still seem busy and the restaurants are usually crowded. Also a lot of my students still seem to travel overseas. When I talk to the taxi drivers when I go downtown for classes they complain that people aren't out drinking as much and companies aren't paying for as much entertainment, but that is about all I can see. I don't see the pain that the US had back in the 70s. The reason may be that Hokkaido is always on the the recieving end of these supplemental budgets and if I lived in Tokyo or Osaka I would notice it more. 1:11:09 PM

© Copyright 2003 David Campbell. Last update: 3/8/03; 10:26:45 AM.