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Economic Crisis in Japan

This week's In the News examines Japan's struggle against economic recession. The nine resources discussed provide an overview on various aspects of the topic. Due to economic crisis throughout Asia, the Japanese economy was severely strained this week as the yen continued to fall against the dollar in Tokyo trading. A "weak domestic financial sector" and shrinking private-sector investments and exports also contributed to Japanese economic woes, according to Economic Planning Minister Shimpei Nukaya. Although many top Japanese governmental officials believe their nation's economy can be revived through financial reform and international monetary support, some United States analysts remain uncertain. With a weak GDP, a weak yen, and ownership of over half the world's savings, international concern for Japanese impact on other economies is growing. To alleviate these fears, President Clinton bolstered the yen with US dollar sales on June 17, 1998. The long-term effects of this intervention remain to be seen.
Alternate Title
In the News: Economic Crisis in Japan
Archived Scout Publication URL
Date of Scout Publication
June 18th, 1998
Date Of Record Creation
April 3rd, 2003 at 5:27pm
Date Of Record Release
April 3rd, 2003 at 5:27pm
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