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Japan's Worst-Ever Deficit
Forbes, 03.09.09
Tanking investments, shrinking exports lead to more bad news for Asia's largest economy.
Japan Inc. once looked smart for investing abroad. Now that those investments have stopped sending profits home, the country's current account is going further into the red.
The current account had a January deficit of 172.8 billion yen, or $1.8 billion, the Ministry of Finance reported Monday. That's the poorest showing ever for the world's second-largest economy, until recently a trade behemoth. The income surplus component of the current account dropped 31.5% from the previous year as falling interest rates abroad and weak profits meant investments overseas were no longer as lucrative...more...
