Tumblr Icon RSS Icon

Japan’s Q2 GDP Shrank at Record Pace

By Matthew Yglesias

"Japan’s Q2 GDP Shrank at Record Pace"

Share:

google plus icon

The current recession is already worse in some ways than the Japanese Depression of the 1990s in Japan: “Japan confirmed Wednesday what many had long suspected: that the world’s second-largest economy contracted at a record pace during the quarter that ended March 31, as exports collapsed and companies cut back production.”

The United States could really use some export-led recovery. But the world’s second- third- and fourth-largest economies are all export-oriented and busy collapsing due to the collapse of demand in the trade deficit countries.

‹ Subway Maps to Scale

Rep Blumenauer Challenges George Will to a Debate on Portland ›

By clicking and submitting a comment I acknowledge the ThinkProgress Privacy Policy and agree to the ThinkProgress Terms of Use. I understand that my comments are also being governed by Facebook, Yahoo, AOL, or Hotmail’s Terms of Use and Privacy Policies as applicable, which can be found here.