JapanÆs globalisation has so far been outbound only. The next step is to open up the economy to foreign capital and labour û or face another fight with deflation, says Kyohei Morita. In an interview with FinanceAsia, the chief economist at Barclays Capital also notes that unless the global economy recovers, the Japanese economy is in for a double blow with a slowdown in the financial sector as well as the domestic economy.
The markets in Japan have suffered severe shocks in recent weeks. WhatÆs your summary of the current situation
The picture is grim. Export weakness is spilling over into the rest of the economy. Private capital expenditure is slowing. Simultaneously with...
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