Amid relatively minor ups and downs, Japan is finding it hard to get out of two decades of economic slump. The latest media reports say the world’s third-largest economy is even relapsing into another, if short, recession, after which Tokyo’s growth pace will fall back to pre-2008 levels. The drastic downsizing and plant shutdowns by such one-time household names as Sony and Sharp are creating a somewhat chaotic atmosphere. Korea, once called little Japan, can ill afford to remain an idle spectator of what’s going on across the East Sea.
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