China and Japan, Economy-wise

choi

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Two reports from New York Times, on the same day.

(1) Hiroko Tabuchi, China's Day Arriving Sooner Than Japan Expected. New
York Times, Oct. 2, 2009 (title in the print).
http://www.nytimes.com/2009/10/02/business/economy/02yen.html?em

Note:
(a) Tadashi Yanai 柳井 正
(b) Yoshiaki Tsutsumi 堤 義明
(c) Nobuo Iizuka 飯塚 信夫

"Though recent wild currency swings could delay the reckoning, many
economists expect Japan to cede its rank as the world’s second-largest
economy sometime next year

"Japan’s economy shrank at an annualized rate of 11.7 percent in the first
three months of the year before recovering to a modest 2.3 percent annual
rate of growth in the second quarter

In the list of global companies ranked by market capitalization, "Toyota
Motor ranked No. 22, at $144.5 billion, and only five other Japanese
companies made the top 100.

My comment:
(a) Regarding the first quotation. Financial Times quoted a guy from Morgan
Stanley several times this years that China (excluding HK, Macao and Taiwan)
would surpass Japan in nominal GDP. Due to Japanese yen appreciation for
the most part of the year (because investors world-wide seek safe havens),
the prediction is delayed a year, obviously.
(b) Regarding the second quotation. Taiwan was worse: minus 22% in Q1 2009
compared with a year ago (according to Economist magazine; contraction again
in Q2 (no calculation as Taiwan does not report ANNUALIZED values).
(c) Regarding the third quotation. Come on, car makers worldwide suffer
since a year ago--except China's.


(2) Hiroko Tabuchi, How Do Japanese React to China’s Rise? Depends on Their
Age. New York Times, Oct. 2, 2009.
http://www.nytimes.com/2009/10/02/business/global/02generation.html?_r=1&scp=20&sq=china+japan&st=nyt

Note:
(a) Tabuchi 田淵
(b) Genda 源田, 現田
(c) Mizuno 水野
The above three are Japanese surnames.
(d) Nippon Saisei Sakaba 日本再生酒場

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