The Japanese government had some good news to report on Monday: its bruised and battered economy expanded 1.2% in July-September from the April-June period and 4.8% since the last year, almost twice the predicted rate. Exports soared 6.4% quarter-on-quarter. One has to note here that the Japanese economy all but collapsed in 2008 and early 2009, and that these numbers are coming off the pretty low base created by it. The strong recovery is credited to the government’s stimulus plan and economists are urging it not to stop its assistance, including keeping interest rates low for a foreseeable time. Read more: AFP
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