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March 9, 2010

Japan Edges from U.S. Toward China

Gideon Rachman, Financial Times

AP Photo

Sitting in his office in Tokyo last week, a senior official pointed to a recently published volume called “Japan Rising”. “I look at that book every now and then to cheer myself up,” he said. It is easy to understand why. Right now, Japan has got that sinking feeling.

China is about to overtake Japan as the world’s second-largest economy. The country’s national debt has hit an awesome 180 per cent of gross domestic product, (un)comfortably the highest in the world among rich countries – and there is no credible plan in place to hack it back. Read Full Article ››


TAGGED: China, United States, Japan

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